Few people and many professionals really know much about the dreaded Alternative Minimum Tax, how it's calculated, and when it might really bite you.
I read an article today that had some good examples. It's amazing that something with such good intentions in 1969 is catching so many undeserving individuals today and no one is willing to permanently get rid of it or to bring it up to date for whom it is meant to catch.
Bloomberg.com: Worldwide
For anyone selling highly appreciated assets, you should visit your CPA and have them do a calculation to see if this will affect you if you chose to sell and "just pay taxes".
Proper planning is always the key!
ps. Really hoping to debut my two new websites by Aug 1st. Stay tuned.
Paula Straub
SaveGainsTax
Capital Gains Tax Resource - Interview with the Pros
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