Top 10 AMT Causes and Planning Strategies
Date/Time: Aug 1, 2014, 11:30am–3:00pm Developer: CalCPA CPE Credits: 4.00 Field of Study: Taxation Level: Intermediate
There can be much confusion—especially for taxpayers—surrounding who has to pay the alternative minimum tax. Stay current on the rules by exploring the top 10 causes of AMT and dive into planning opportunities for each particular area. You will learn how multiple-year planning strategies can affect the AMT's impact in future years, plus how capital gains impact AMT. In addition, we'll demystify Form 8801, look at ways to ensure your clients get the most of their minimum tax credit and review AMT issues specific to California.
Understand how the alternative minimum tax calculation is
derived and its relationship to the regular tax. Know the principal adjustments that cause individuals to fall subject to AMT. Master techniques for explaining the AMT to clients in simple, concise terms. Learn to calculate the minimum tax credit and how to apply it in future years. Identify tax planning strategies for minimizing the impact of AMT.
History of the AMT The AMT calculation Capital gains and AMT Tax planning strategies for Californians AMT exclusion amounts Kids and AMT Married filing separate issues The minimum tax credit California's AMT The top AMT preferences and adjustments
CPAs, attorneys and other tax professionals with individual income tax clients who need a thorough understanding of AMT causes and solutions.