Expert, I’ve cleaned out Pearl Paint many times! Oh the joys of canvas and paints! I stick to the acrylics though. I love to do my own artwork, but don’t feel good enough to delve into oils yet.
“AMT is I think something where those with tons of deductions( 12 children, mortgage interest on mcMansions, state/local income real estate taxes, titheing to penecostal church) – still have to pay some minimum federal income tax.”
Nope. More like something where a guy who is very much not rich and has 3 kids (and basically no deductions – I’m not eligible to deduct stuff like student loan interest) and pays through the nose to begin with gets to pay even more because of the completely fucked up way AMT works.
If you earn above a certain amount, you have to do another tax calculation with fewer deductions allowed.
Don’t know much beyond that as I don’t do my own taxes.
Snappy, I also have all sorts of paper, boards, fabrics, spray paints, art markers, colored pencils, oil paint, watercolors – all the tubes are probably dry now.
Lech, 3 kids and still no good deductions? That is effed up.
AMT
Another Mofo Tax
Expert, I’ve cleaned out Pearl Paint many times! Oh the joys of canvas and paints! I stick to the acrylics though. I love to do my own artwork, but don’t feel good enough to delve into oils yet.
“AMT is I think something where those with tons of deductions( 12 children, mortgage interest on mcMansions, state/local income real estate taxes, titheing to penecostal church) – still have to pay some minimum federal income tax.”
Nope. More like something where a guy who is very much not rich and has 3 kids (and basically no deductions – I’m not eligible to deduct stuff like student loan interest) and pays through the nose to begin with gets to pay even more because of the completely fucked up way AMT works.
Thanks Lechacal. Got it now.
Pete, what does it stand for though?
Alternative Minimum Tax.
If you earn above a certain amount, you have to do another tax calculation with fewer deductions allowed.
Don’t know much beyond that as I don’t do my own taxes.
Snappy, I also have all sorts of paper, boards, fabrics, spray paints, art markers, colored pencils, oil paint, watercolors – all the tubes are probably dry now.
I have a Pearl Paint set up in at home.
alternative minimum tax. It’s the only thing that makes me at all interested in buying rather than renting right now.