Will you get hit by AMT?
The Alternative Minimum Tax is hitting more and more income earners in the US. I recommend that you work closely with your CPA to see if you can avoid this tax or lessen its impact on you. The author says that “taxing the rich” plays well in Washington but his solution is to…tax the rich. To live a pretty typical Bay Area lifestyle, households need to earn $200,000 or more which begins to put them in AMT territory.
The Basics
A big, ugly tax surprise is
looming
If you haven’t been hit by the alternative minimum tax, this is no time to relax. It’s getting closer and closer to you. And you might get hit by the tax sooner than you think — unless Congress fixes it.
