“...the AMT is the tax code’s bete noire...”
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That’s racist!
What sucks about the AMT is that you have to calculate your tax twice. After jumping through all of the inducements, discouragements, and complexity or the regular tax code, you then have to calculate the AMT and pick the higher. You can’t just say... hell, the AMT is simpler, I’ll take that... because you don’t know which calculation is worse for you.
Apparently the author of this piece hasn’t yet heard that all assets are now the property of The State.
Premier Hussein MAY allow you to keep a little, provided you toe the line like a good little prole.