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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2017 vs. 2018 Alternative Minimum Tax (AMT) Threshold and Exemption Amounts

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[Trump and GOP Tax reform update and impact to AMT] As part of GOP tax reform bills to support President Trump’s tax reform agenda, there has been a strong push to eliminate the individual Alternative Minimum Tax (AMT). However the GOP has relented to public perceptions that a full AMT elimination is a hand out to the more […]

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