Month of November, 2007

AMT Strategy #1: First thing, find out if it’s going to be an issue for you. Don’t wait. Call your CPA today with your estimated income and expenses. And then ask your CPA what he is doing to prepare you for AMT.

I see that Congress has promised the IRS that it will act on AMT before closing down for the holiday season.

Something I often see when reviewing client files are very complicated tax strategies that involve moving money from one entity to another. There can be some great tax advantages to these complicated strategies, and I’ve made plenty of similar recommendations.

23 Million More Americans Are Going to Have to Pay AMT This Year

I’ve spent the last 4 years writing books, building websites and developing a massive non-profit fund-raising effort. My company still got requests every day for personalized tax strategies, but for the past 4 years we’ve had to say that I no longer do them.

The House Ways and Means passed an AMT patch to extend the provision from 2006 through the 2007 year-end. But, at what cost?

We’re back! After a few long months of planning, developing, bugging, debugging and debugging some more, I’m pleased to welcome you all to TaxLoopholes 3.0. Feel free to explore!

Bookkeepers of the world rejoice - your days of standing in line on the 15th of each month to make your company’s payroll tax deposit are coming to an end.

The folks where I bank do NOT look this happy …

Looks like turkey has trumped taxes. On November 15th, Senate Democratic leaders were to try and pass the pending legislation with the AMT patch before recessing at midnight. Yet here we are, on November 16th, listening to a deafening silence from Washington.

I thought I’d take a minute to update you on a piece of legislation that needs more attention but isn’t getting it. That’s the Mortgage Relief Debt Forgiveness Act, which started off life as a separate bill but has since been folded into the same AMT relief bill Congress is trying to get passed right now. Another Blow to Housing Sales?