Article Date:
July 2014


Word Count:
755

 

 

Sneaky AMT Bites Surgeon


Let’s be real! The alternative minimum tax (AMT) is a “stealth tax.”

 

Why stealth?

 

The AMT is a tax you often don’t see coming until its too late. It’s a tax on your deductions. (You read that right—a tax on your deductions.)

 

Here’s how it works. You first do a regular tax return using regular tax law rules. Next you complete a one-page AMT form that taxes the deductions you claimed on your regular return. That’s stealthy.

 

Background

 

On May 5, 2004, Elizabeth A. Vitarbo ... Log in to view full article.

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