Tax Exemptions For The Alternative Minimum Tax Killer Advice
Tax Exemptions Qualifications
If you took deductions from state and local taxes, sales and property taxes, incentive stock options and other tax deductions and special credit expenses, you may be liable to pay a minimum amount of tax for all these tax advantages you have received benefits from. The amount of income that you bring home plays an important role when the alternative minimum tax exemptions are calculated.The good news is that, beginning with 2009, the tax exemptions amount has increased to $70,950 for married taxpayers filing jointly. For married taxpayers filing separately the amount has increased to $35,475.For singles and heads of household, the tax exemptions level amount rises to $46,700.