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Could the AMT boost your 2017 tax bill?

Posted by Melanie Posted on Nov 16 2017

A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer (and in some cases permanently reduce) tax. But there are exceptions. One is if the additional deductions this year trigger the alternative minimum tax (AMT). Complicating matters for 2017 is possible tax reform that could repeal the AMT for 2018 and beyond but also limit the benefit of some deductions and eliminate others, making it less desirable to defer expenses to 2018. We can help you determine the best strategies for your situation.

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