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George Bauernfeind - ArticlesIt's Fall: 10 Weeks of Alternative Minimum Tax Planning Ideas...Week 3 "Miscellaneous" Itemized DeductionsIt may seem odd that a category of expenses labeled "job expenses and certain miscellaneous deductions" could affect nearly a third of all taxpayers caught in the AMT, but that just happens to be the case. It's Fall: 10 Weeks of Alternative Minimum Tax Planning Ideas...Week 3 Sales Tax on New Cars – Special Alternative Minimum Tax Benefit Expires Dec. 31If you still are thinking about buying a new car but haven't done it yet, you’d better start visiting showrooms soon. The new tax law allowing a one-time deduction for sales tax paid on a new vehicle will expire in just 6 weeks; after December 31st it’s too late. It's Fall: 10 Weeks of Alternative Minimum Tax Planning Ideas...Week 2 Property TaxesSimilar to state income taxes, for Regular Tax purposes you are allowed a deduction for property taxes that you pay. Under the AMT, however, you are allowed no deduction for property taxes. It's Fall: 10 Weeks of Alternative Minimum Tax Planning Ideas...Week 1 State Income TaxesFor Regular Tax purposes - that is, if you are not in the Alternative Minimum Tax - you are allowed a deduction for state income taxes that you pay. Under the AMT, however, you are allowed no deduction for state income taxes. It's Fall: 10 Weeks of Alternative Minimum Tax Planning Ideas...Week 1“It’s the time of the season” was a popular song some years ago. The barbecue grills are put away, the kids are back in school, and the foliage is starting to turn. The 2008 tax return season was officially over on October 15; now it’s time to start thinking about 2009. Tax Tip: Five Tax Facts about Summertime Child Care ExpensesMany parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation.Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the lazy hazy days of summer and throughout the rest of the year. Tax Tip: Top Seven Tips for Taxpayers Starting a New BusinessAnyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year. Tax Benefits for Job SeekersMany taxpayers spend time during the summer months polishing their résumé and attending career fairs. If you are searching for a job this summer, you may be able to deduct some of your expenses on your tax return. IRS “Summertime Tax Tips” and the Alternative Minimum TaxIn Information Release 2009-64, issued last week, the Internal Revenue Service announced that is publishing a series of periodic “summertime tax tips.” The stated purpose behind issuing these tips is to provide useful and concise advice on topics that affect taxpayers. The Annual Alternative Minimum Tax “Patch” and “Indexing” ExplainedEach year for the past several years Congress has “fixed” the AMT problem by enacting a temporary “patch.” With the signing of the stimulus bill this past February, 24 million taxpayers who otherwise would have been in the AMT in 2009 are spared – but only for one year. Come January 1, 2010 these 24 million people again risk falling into the AMT.
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