exemptions

IRS Tax Tips – Tax Benefits for Parents Plus Facts about Dependents and Exemptions

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The IRS publishes several bulletins which contain useful information for tax payers with dependents – e.g parents, grand parents and guardians – that apply to many of my readers. I have summarized the key points below including references to related articles for the latest tax season. Tax Benefits for Parents Dependents. In most cases, you can claim […]

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2016 and 2017 Alternative Minimum Tax (AMT) Threshold and Exemption Amounts

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Following enactment of the American Tax Relief Act (ATRA), the AMT patch legislation that Congress had to pass every year to ensure more people were not snagged by the Alternative Minimum tax is now no longer required. Instead the AMT exemption and associated thresholds based on filing status are now tied (or indexed) to inflation […]

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