Question

 Are cash contributions deducted in Alternative Minimum Tax?

Answer Cash contributions are deductible in the Alternative Minimum Tax with proper documentation. The IRS requires either a bank record, a payroll deduction or a receipt for the cash contribution that li... Read More »
http://www.answerbag.com/q_view/2036361

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When Could 529 Contributions Be Deducted from Pennsylvania State Taxes?

A 529 plan is a tax-deferred savings account earmarked for higher education. You can open such a plan for your own children or to benefit someone else's child. Under federal law, as of 2011, you ca... Read More »
http://www.ehow.com/info_8497640_could-deducted-pennsylvania-state-taxes.html

What is an alternative minimum tax?

The alternative minimum tax is a tax that is designed to eliminate deductions and credits. It increases a tax payer's liability "for an individual who would otherwise pay less tax," according to th... Read More »
http://www.answerbag.com/q_view/2109156

Who pays alternative minimum tax?

According to the IRS, the alternative minimum tax (AMT) is a separately figured tax that eliminates many deductions and credits, thus increasing tax liability for an individual who would otherwise ... Read More »
http://www.answerbag.com/q_view/1997129

What does the alternative minimum tax change really mean?

The alternative minimum tax (AMT) is used to ensure that wealthy households pay at least a minimum amount of taxes, or no less than a "tax floor." The change in the AMT in 2009 means many people w... Read More »
http://www.answerbag.com/q_view/1911998


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