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Financial Planning / Tax Strategies


Subject:  Re: Understanding AMT Date:  3/19/2013  8:57 AM
Author:  GardenStateFool Number:  118083 of 127745

I found this calculator this morning. It was very helpful for comparison purposes for me.

I'm very concerned about triggering AMT, since I live in NJ and my deductions are state income tax, property tax, charitable contributions, and mortgage interest (roughly in order of significance, actually).

So if something's going to trigger AMT for me, it's going to be state and property taxes. I could find a billion things that said "calculate if you'll owe or not" but NOTHING on how close to the edge I was or what the consequences would have been had the patch not been put into place.

The calculator at least helped me model somewhat. Does anyone know of another one?

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