Facts about the Alternative Minimum Tax
June 9, 2009 by Stephanie Potash
FACTS ABOUT THE ALTERNATIVE MINIMUM TAX
Tax laws provide tax benefits for certain kinds of income and allow special deductions and credits for certain expenses. These benefits can drastically reduce some taxpayers’ tax obligations. The Alternative Minimum Tax attempts to ensure that anyone who benefits from these tax advantages pays at least a minimum amount of tax.
$69,950 for a married couple filing a joint return and qualifying widows and widowers
$46,200 for singles and heads of household
$34,975 for a married person filing separately
Please contact one of our member firms if you would like more information about the alternatnive minimum tax. Go to www.gordoncpa.com.