Register to leave a comment, or log in if you already have an account
Legion, once one is in AMT status, one hasn’t benefited much at all on that bush tax relief that’ll disappear next yr – ie when the baseball bat is up your behind already, adding/removing a toothpick chunk of wood from the bat wont make much of a difference at all
I am not only withholding with no exemptions but in addition to that I get extra $$ taken out of every paycheck to try to avoid having to write a check at the end of the year. And I still get hit with AMT. It’s a total myth that you have to be taking a ton of deductions to get hit with it. My biggest deduction BY FAR is for all of the state and local taxes I pay. But of course AMT disallows that I think (infuriating).
So again, to the 47% – You’re welcome.
And to smug academic assholes who write cute little treatises on redistributive taxation to program starry eyed little university students into thinking this is all a good thing – fuck you fuck you fuck you fuck you.
Lech, owning aint going to give you relief on AMT cause the mortgage interest would simply be add’l deductions you CANT claim. At a certain income level, the NYC income tax alone puts you into AMT status
Legion, once one is in AMT status, one hasn’t benefited much at all on that bush tax relief that’ll disappear next yr – ie when the baseball bat is up your behind already, adding/removing a toothpick chunk of wood from the bat wont make much of a difference at all
cobble, snaps, arkady-glue gun, woodburning/soldering tool, 15 different kinds of wire, colored pens and pencils, calligraphic pens, epoxy, paper mache mix, glitter, 4 different kinds of varnish, paints, watercolors, pastels, beads, 3 types of jewelers pliers, sculpting tools, sculpey, paper clay, uv hardening varnish with uv lamp, fabric hardener, colored mica powders, 40 colors of nail enamel, shrink plastic, wood bits, oval canvases, rice paper….and sobo 🙂
oh- and sequins.
M4L – Wrong. Mortgate interest is deductible for AMT. Super valuable for someone in my situation.
Not 100% sure what I said about state and local taxes not being deductible for AMT is right. Would need to look that up to confirm.
Legion, they’re all too involved in some crafts project to bite.
I am not only withholding with no exemptions but in addition to that I get extra $$ taken out of every paycheck to try to avoid having to write a check at the end of the year. And I still get hit with AMT. It’s a total myth that you have to be taking a ton of deductions to get hit with it. My biggest deduction BY FAR is for all of the state and local taxes I pay. But of course AMT disallows that I think (infuriating).
So again, to the 47% – You’re welcome.
And to smug academic assholes who write cute little treatises on redistributive taxation to program starry eyed little university students into thinking this is all a good thing – fuck you fuck you fuck you fuck you.
Anyone ever watch “The United States of Tara” on Showtime? It’s amazing.
DIBS, your rentboys ARE paying the AMT – ie don’t report income is the most effective way to MINIMIZE taxes
dibs,
I see you’re putting the cheese out on a platter,
a nice big chunk of swiss.
m4l,
new taxes coming in next year,
bush tax cuts fading fast.
Lech, owning aint going to give you relief on AMT cause the mortgage interest would simply be add’l deductions you CANT claim. At a certain income level, the NYC income tax alone puts you into AMT status