This time around, the Gordons aren't taking any chances, They am consulting with their tax professional on an end-of-year tax strategy to ensure that they don't get ensnared in the AMT trap again.
On August 3, 2018, AMT will celebrate 20 years of success and partnership with customers, suppliers, stakeholders, and staff at AMT corporate headquarters in Keelung, Taiwan.
Recognizing the requirement that taxpayers compute their income for purposes of both the regular income tax and the AMT as "one of the most far-reaching complexities of the Code," (1) the Committee on Ways and Means included a provision in the House tax reform bill that would repeal the individual and corporate AMT.
The tax base for AMT purposes is calculated by adjusting regular taxable income before net operating losses for certain preference and adjustment items.
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