Many think of the Alternative Minimum Tax as something only
rich people pay. But even with tax reform having reduced its
bite, the AMT still affects many upper-middle income
In the following video, Dan Caplinger, The Motley Fool's
director of investment planning, talks about the AMT and how it's
a completely separate tax system that can add thousands to your
tax bill. Because it uses different deductions and exemptions,
the AMT can lead to higher taxes in some cases, especially for
those who live in states with high state and local tax burdens.
Dan notes that higher AMT exemptions and higher ordinary tax
rates should make fewer people subject to AMT, but with almost 4
million taxpayers paying an average of $6,600, it's worth looking
at the AMT and considering any measures available to reduce its
Take advantage of this little-known
Recent tax increases have affected nearly every American
taxpayer. But with the right planning, you can take steps to
take control of your taxes and potentially even lower your tax
bill. In our brand-new special report "
The IRS Is Daring You to Make This Investment
The IRS Is Daring You to Make This Investment Now!," you'll
learn about the simple strategy to take advantage of a
little-known IRS rule. Don't miss out on advice that could
help you cut taxes for decades to come.
Click here to learn more.
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