The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/amt-and-property-taxes-21787996.aspx

Subject:  AMT and Property taxes Date:  12/21/2004  12:15 PM
Author:  HokeySon Number:  74814 of 121600

I posted a while ago questioning why I was subject to the Alternative Minimum Tax last year when my situation did not involve any of the items that the tax was designed to address (I just had wages and pretty normal deductions). The consensus was that I live in an area with high local taxes (California). That leads me to this question: Should I pay next year's property taxes early to get the deduction this year or will that create more AMT issues? I have a very high wage income this year due to leaving my prior job and setting up my own firm. Next year will undoubtedly be less lucrative (by about a mile or more). I have the idea that I should accelerate necessary deductible expenses this year to shield as much as I can because next year I will likely not need to shield as much. Any thoughts appreciated.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us