Reply to Ugh AMT!!

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[quote=Anonymous][quote=Anonymous]It puzzels me when people say you need to make more to avoid the AMT. it is like people hate the word not more taxes.

AMT forces certain midrange incomes (mostly in the 25%-28% tax bracket with certain deduction) to pay taxes using the AMT formula which only has two brackets (26%-28%).  If a good chunk of your income falls above the 33% bracket  then of course you are not paying the AMT but you are paying even more taxes.

I do not know if this will make everyone feel better but think of it as we are all riding the same train and at a certain station we need to get off and ride the AMT train for a bit. Then you get off on the next stop and hop back on the old track. I am not jealous of the people who never pay the AMT; they are less fortunate than I am.  I am not jealous of people who don't pay the AMT because they make too much; they have already been there and paid their dues and then paying some more.[/quote]

It's the lost deductions, coupled with the shrinking AMT exemption amount. If you are at the low end of the AMT income scale, your marginal rate is 35 percent. That's what gets me. [/quote]

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