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Academy for Salon Professionals Canoga Park AMT Tax BUSINESS Discussion
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Janice, a single taxpayer, owns a home, makes monthly mortgage payments, and has real estate taxes due by January 10th of next year. Her state income tax payment is due January 15th of next year. She also owns some private activity municipal bonds and has incentive stock options that she can exercise now or within the next 2 years.
Janice is concerned about her federal tax bill this year and wants to avoid or at least reduce the amount of alternative minimum tax she pays this tax year.
What are some strategies she could use to try and minimize or eliminate her AMT tax for this year?
