There are few things in the world of taxes more terrifying than the Alternative Minimum Tax (AMT).
After taking all of that time with your W-2s, donations, and various deductions the AMT steps in and tells you that none of that matters; you suddenly owe thousands more in tax.
That’s scary enough for me. Here’s an overview of the Alternative Minimum Tax and what can trigger it to impact your taxes.
What is the Alternative Minimum Tax (AMT)?
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