Alternative Minimum Tax Eased

New Law Eases Individual Alternative Minimum Tax Unfortunately, the Tax Cuts and Jobs Act (TCJA) retains the individual Alternative Minimum Tax (AMT). But there’s a silver lining: The AMT rules now reduce the odds that you’ll owe the AMT for 2018 through 2025. Plus, even if you’re still in the AMT zone, you’ll probably owe…

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AMT Calculations: It’s Showtime

The alternative minimum tax (AMT) was enacted back in 1969 to ensure that high-income individuals don’t take advantage of multiple tax breaks and avoid paying federal tax. However, in recent years, the AMT has been imposed on many middle-income taxpayers. Unfortunately, the Tax Cuts and Jobs Act (TCJA) retains the individual AMT. But AMT exemptions and…

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Important Changes for Individuals in the New Tax Law

For individual taxpayers, the new tax law — commonly known as the Tax Cuts and Jobs Act (TCJA) — includes many expected changes, some unexpected ones and some that didn’t make the final cut. Here are the most important things that individual taxpayers need to know about the TCJA, which was signed into law on December 22,…

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