What Causes Alternative Minimum Tax Liability?
Standard Deduction
Some 70% of American taxpayers claim the standard deduction as opposed to itemizing. The standard deduction is not allowed under the AMT.
Usually this is not a problem because the AMT generally hits people with higher incomes, and these people are more likely to claim itemized deductions. Yet it is worth noting that a deduction that is so widely used can contribute to AMT liability.
Contact H&M to discuss how AMT affects you
Why Hienz & Macaluso LLC
As a certified public accounting firm based in the New Orleans Metropolitan Area, we are dedicated to leadership in professional accounting services and constantly seek innovative ways to better serve our clients in existing and expanded dimensions. We take exceptional pride in our ability to provide clients with a large degree of personal attention.
Current Tax Topics
Monthly Newsletter
Tools & 
Tax
Areas of Specialty