When Planning Never Forget The Alternative Minimum Tax
Surely you have been keeping track of your AMT basis in your S corporation stock.
Oh. You rely on your accountant for things like that. Well, I have to tell you. Your reliance is misplaced. If you have had the same accounting firm for all the years that you owned the S corporation and they used a good software package like Pro fx continuously for all those years, there is a chance that the number is available. If you switched preparers several times and they switched software, the chance that you have a good AMT basis number is pretty remote.
President Obama Will Be Missed At Gettysburg Address Commemoration
It is too bad that President Obama cannot make the ceremony, but just by being our President on that day, he is doing his part to commemorate the promise.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.