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Table of Contents
Table of Contents
Understand how the Alternative Minimum Tax captures income that would otherwise escape taxation, ensuring high-income taxpayers contribute a fair share while navigating complex preferences and adjustments.
What You Will Learn
- 1 Learn the historical context and purpose of the Alternative Minimum Tax system
- 2 Understand the structure of AMT: tentative minimum tax, exemption amounts, and phase-outs
- 3 Identify tax preference items and adjustments that trigger AMT liability
- 4 Apply the AMT calculation process: from regular taxable income to AMT liability
- 5 Analyze the interaction between AMT credits and regular tax credits
- 6 Evaluate strategies for AMT planning: timing of income and deductions
- 7 Understand corporate AMT: computation, exemption, and applicable credits
- 8 Examine state-level AMT systems and their conformity to federal rules
- 9 Assess recent legislative changes and proposed reforms affecting AMT
- 10 Develop compliance procedures for filing Form 6251 and managing AMT audits
What's Included
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Alternative Minimum Tax