DangerMouse
Thinks s/he gets paid by the post
I have been immersed in tax planning trying to ensure I can minimise what we pay. I have been using the calculators at HR Block.
We have always done Married Flying Joint. However doing this leaves us with a $5k bill for AMT this year. What surprised me is if we both file as Single we actually pay $6k less in Federal Tax this year and there is no AMT payable by either of us. Does this seem right?
Also I have heard reference to there being changes made to AMT before the end of the year. What is the likelihood of this happening and when would it happen?
We have always done Married Flying Joint. However doing this leaves us with a $5k bill for AMT this year. What surprised me is if we both file as Single we actually pay $6k less in Federal Tax this year and there is no AMT payable by either of us. Does this seem right?
Also I have heard reference to there being changes made to AMT before the end of the year. What is the likelihood of this happening and when would it happen?