Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 660 other followers

  • Blog Stats

    • 279,867 hits
  • Posts By Day

    October 2019
    M T W T F S S
    « Jul    
     123456
    78910111213
    14151617181920
    21222324252627
    28293031  
  • Subscribe

  • Special Pages

Archive for the ‘AMT’ Category

Global Minimum Tax?

Posted by taxguru on March 31, 2012

Illustrating once more why he is the most retarded Vice President this country has had, Joe “Bite-Me” Biden is publicly calling for even more taxes while we are still in the recession that he and his master have been prolonging.  Hopefully, this kind of candor will have the same result this November as when Walter Mondull promised to raise taxes in the 1980 election; a 49 state landslide win by the GOP candidate.

Courtesy of Rush Limbaugh:

From Blog Pix

In his own words, our clown VP demonstrates his imbecilic IQ. 

 

Update: It seems that Bite-Me’s boss also isn’t very well versed on what kind of rhetoric works well in presidential campaigns.

Obama Makes Election Year Call for Higher Tax Rates

Of course, since he considers himself to be a messiah, he truly believes that the consequences faced by a mere mortal such as Walter Mondull simply don’t apply to the all powerful Chosen One, Barack Hussein.

 

Posted in AMT, Biden, Morons, TaxHikes | Comments Off on Global Minimum Tax?

Another AMT?

Posted by taxguru on January 30, 2012

As if the current alternative minimum tax calculation weren’t insane enough, some of our DemonRat rulers in DC are considering adding a second one that they are naming after their Class Envy Clown, Warren Buffett.

Democratic Senators to Push ‘Buffett Rule’

Households with adjusted annual gross incomes over $1 million would prepare their taxes as they do now, with all the deductions, credits and loopholes intact. They would also calculate what 30 percent of their adjusted gross income amounts to. They would then pay whichever amount was larger.

How long do you suppose it will take for that million dollar threshold figure to drop and ensnare millions more, just as the current AMT has?

 

Posted in AMT | Comments Off on Another AMT?

Just what we need, another Insane AMT

Posted by taxguru on September 19, 2011

The Buffett Tax Deception

 

 

 

The Buffett Alternative Tax. The rich don’t pay lower average tax rates.

 

From Blog Pix

Posted in AMT, SoakTheRich, TaxHikes | Comments Off on Just what we need, another Insane AMT

2008 AMT Exemptions

Posted by taxguru on November 12, 2008

Q:

Subject:  any update on AMT for 2008?

Just trying to get a handle on what my liability will be.  Last year we crept over the line and we subject to AMT for the first time.  I suspect we will be again this year, but would like to get a better fix on how big it will be.

thx

A:

As part of the big bail-out bill that was passed last month, the AMT exemption amounts were increased for 2008 to:

$46,200 for people filing as Single or Head of Household
$69,960 for Married Filing Joint or Qualifying Widow
$34,975 for Married Filing Separate

As it stands now, these amounts will drop for 2009 to:

$33,750 for people filing as Single or Head of Household
$45,000 for Married Filing Joint or Qualifying Widow
$22,500 for Married Filing Separate

Whether those figures will be changed is completely up in the air now that we have an anti-success Socialist administration ready to take over control of the tax code next year.

You can download the complete 24+ page pdf summary of the latest tax bill from The TaxBook at:

www.thetaxbook.com/updates/thetaxauthority_update_service/pdf/bulletin/10-10-2008_update.pdf

Good luck.  I hope this helps.

Kerry Kerstetter

 

Netflix, Inc.

 

Posted in AMT | Comments Off on 2008 AMT Exemptions

Posted by taxguru on December 28, 2007

Updates from IRS on the upcoming filing season:

Filing Season Opens on Time Except for Certain Taxpayers Potentially Affected by AMT Patch

Alternative Minimum Tax (AMT) – How It Affects Filing Season 2008

 

Posted in AMT, IRS | Comments Off on

Posted by taxguru on December 22, 2007


(Click on image for full size)

Posted in AMT, comix, Dims | Comments Off on

Year-end present from our rulers?

Posted by taxguru on December 20, 2007

Posted in AMT, comix | Comments Off on Year-end present from our rulers?

Posted by taxguru on December 16, 2007

Don’t Be Afraid of the AMT … Get Some Help Another short guide to dealing with the Insane AMT. 

The longer this mess drags on in DC, in terms of our rulers officially addressing this fiasco, the more obvious is their utter incompetence at dealing with common sense.  While they may not agree with me that the entire AMT system should be jetisoned, how hard is it to understand the need to at least adjust the threshhold figures for inflation, as most other items in the tax code already are?

 

Posted in AMT | Comments Off on

Posted by taxguru on December 15, 2007

Taxing Time for Democrats? – A reminder by Michael Barone of what a messy tax planning environment we are looking at over the next few years.  The increasing hit by the Insane AMT, as well as the upcoming expirations of the Bush tax cuts, are going to make realistic tax planning nearly impossible. 

Again, this means more work for us in the tax minimization profession than we have ever seen before.  Each change in the tax code will require more client consultations.  Anyone who worries about being able to earn a good living in the tax business is crazy. 

 

Posted in AMT | Comments Off on

The list of AMT victims grows…

Posted by taxguru on December 8, 2007


(Click on image for full size)

Posted in AMT, comix | Comments Off on The list of AMT victims grows…