Federal Tax Return Analysis & Alternative Minimum Tax (AMT) Overview

 

FREE

 

Discover what items are causing you to be trapped by AMT, gain a basic understanding of the Alternative Minimum Tax, and get the latest from Capitol Hill on the AMT patch (the adjustment to the AMT exemptions).

Trapped by the Alt Min Tax?

Reduce Your Alternative Minimum Tax in 2010

 

Included in the Free Edition:

  • A Federal tax return analysis to help you identify and understand the items trapping you in the AMT (you can start this later or when your tax return is complete)
  • The Basic Understanding of the Alternative Minimum Tax e-book providing details and insights for the more common AMT items
  • The Tax Man Always Rings Twice e-book describing where the AMT stands today and what you can expect to happen in the near future

  

Dear Frustrated Taxpayer,

Millions of us have been through it...

  • Seeing a big unexpected balance in the “to be paid” line of your tax return—and feeling a big knot in your stomach.
  • Thinking, “Isn’t the AMT supposed to be for rich people? So why do I have to pay it? I’m certainly not living the lifestyle of the rich and famous. And I’m already paying MORE than my fair share of taxes”.
  • And then the frustration and anger—because no one can explain exactly WHY you fell into the AMT trap…or how to keep it from happening again next year.

Welcome to the Tax Twilight Zone

I’ve been in your shoes. And I was determined to find out why my tax bill suddenly spiked—even more important—how to keep from stumbling into the AMT trap again. So I started doing lots of research.

And here's what I discovered...


Startling Fact #1: The AMT is the
Bermuda Triangle of the Tax Code


Everyone’s heard of it, but no one can explain it. I talked to all kinds of tax professionals to find out why I was suddenly slapped with the AMT. But I may as well have asked them to recite the Icelandic alphabet.

Tax preparation software treats the AMT as an afterthought. They sprinkle relevant questions throughout the "interview" process, but they don’t ever say, "Warning: saying yes may subject you to the AMT."  They just tally up what you owe and surprise you with it at the end.

Why is it such a deep, dark mystery? One reason is that more than 30 different items—including run-of-the-mill deductions like real estate taxes—can trigger the AMT. But then the plot really thickens because there’s rarely one clear culprit. It’s usually a complex combination of items that pushes you into the red zone.

Here’s an example...

90% of all people assaulted by the AMT pay state income taxes, BUT
Only 9% of those who pay state income taxes end up getting hit with the AMT

So despite the fact that nearly all AMT victims pay state taxes, it’s nowhere close to being a reliable indicator of whether you’ll fall into its trap too.


Startling Fact #2: Minimizing Your AMT
is Like Riding a See-Saw


Think of the AMT as a “parallel tax universe”…as seen in the reflection of a funhouse mirror. Almost everything differs from the regular income tax system—from what gets defined as taxable income, to the types and amounts of allowable deductions, amount of standard exemptions, and even the tax rates.

The result—finding the right strategy to lower your AMT is like riding a see-saw. What lowers your AMT can increase your regular income tax and vice versa. So you have to keep adjusting the numbers and calculating the impact on both types of taxes to find the optimal balance of tax savings.


Startling Fact #3: Good Help is Hard to Find


To say that planning for the alternative minimum tax is “challenging” would be an understatement. Therefore, all tax software and most tax professionals draw the line at planning for the regular income tax.

The IRS website is no help either. The “AMT Assistant” asks if you have any of the 30 trigger items, if you do it tells you to fill out Form 6251 (a 55-line form which includes a 16-line worksheet and 12 pages of instructions) to find out if you have to pay the AMT and how much you owe. But again—there’s not a hint as to “why” or any tips on how to plan better for next year.


Startling Fact #4: The AMT Virus
May Soon Be an Epidemic


Yes, the AMT was originally created to make sure the very wealthy couldn’t totally dodge Uncle Sam. But for some crazy reason, the government never tied the income exemption levels for the AMT to inflation. So they haven’t been adjusted for inflation since 1969—when the average American earned $8,547 a year and a gallon of gas cost 35 cents.

Congress’ so-called “solution” has been to apply a Band-Aid® every year by temporarily boosting the income exemption levels. If they hadn’t passed another one-year patch for 2010, 27 million more taxpayers would have been blitzed by the AMT on April 15—and scrambling to come up with more than $8,400 (the estimated average AMT paid in 2009, according to the Tax Policy Center).

The problem is this last patch cost the Treasury $70 billion dollars in potential revenue.

Given the new administration’s ambitious agenda, all the government "stimulus" spending and bailouts in recent months, and the number of industries still lining up at the till you have to wonder…

Can Congress really afford to turn away that much money again?

But after all that research, there still didn’t seem to be a single reasonable and reliable way to prevent an April surprise from happening every year. So I decided there was only one solution…

I hired a programmer and had him build exactly what I needed…


First Ever AMT Minimizer & Planner

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AMTIndividual is the only all-in-one AMT solution you can access day or night—whenever it’s most convenient for you. This easy-to-use program quickly pulls back the curtain on your unique tax situation and shows you how to legally slash your AMT bill NOW…while you can still do something about it.

Yes, I said legally. All of the recommended strategies have been thoroughly vetted by our team of tax experts, who have more than 60 combined years of experience in accounting, taxation, and law. So if you’re looking for shady tax shelters, this is not the program for you.

With the comprehensive AMTIndividual edition, you can…

  • Solve the mystery of WHAT pushed you into the AMT red zone last year… after spending just 5-10 minutes entering a few items from your tax return.
  • Discover how to immediately start cutting your overall tax bill for the current year…with simple, strategies and examples that are customized for you (down to your state and local tax information).
  • Update your information any time your income, investments, mortgage or other expenses change during the year…and see if you need to adjust tax withholding, estimated tax payments, or your AMT reduction strategies.
  • Make tax-savvy financial decisions by running "what if" scenarios before you sell an investment or business asset, pay taxes and medical expenses, or negotiate a new compensation package …and learn how each option will affect your AMT and regular tax burden before you decide (like anything else, the best treatment is prevention).
  • Access your information any time of the day or night by logging onto our website, which is protected with bank-level security…certified and monitored regularly by McAfee Secure and TRUST-e
  • Forget about keeping up with the myriad of new laws or regulations that could affect your taxes or making sure you’ve downloaded the most recent software version…because we automatically incorporate tax changes and update the program for you
  • Rest assured that there’ll be NO tax-time surprises…no scrambling to pay a big, unexpected tax bill…and you didn’t pay the IRS any more than you had to

You do NOT need to be a tax professional or have an accounting degree to do this. The program does all the heavy lifting for you. You just implement the strategies it recommends—which can be as simple as pay your real estate tax in January instead of December.

Of course, if you have a trusted tax professional, that’s great. AMTIndividual is a smart and affordable way to stay on top of the AMT monster between your annual tax preparation meetings.


How Much Could You Save?

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If you pay the average AMT amount and save just 10% by using AMTIndividual, your check to the IRS would be $800 smaller. And I’m sure you can think of much better ways to spend $800.

And the fact is if you aren't monitoring and planning how to trim your AMT throughout the year, you could bedonating” hundreds or even thousands of dollars in extra taxes to the IRS.

Yet you could spend hours researching the AMT, filling out worksheets, and monitoring every new tax-related regulation that hits the books. You could pay someone a hefty hourly rate to do your AMT planning for you—plus give you advice every time you want to sell an investment, pay tax-deductible expenses, or get a home equity loan.

 Or, you purchase the comprehensive AMTIndividual edition, which includes:

  • A fast and easy dual-tax calculator, which figures both your regular income and AMT taxes.
  • A thorough summary that reveals which items are tripping the trigger and why (plus, for those who like the nitty-gritty details, you’ll learn how each of your triggers are treated differently by the income and AMT tax).
  • Personalized strategies to soften the AMT blow, with customized examples so you can see the strategies in action.
  • In-depth guidance that walks you step-by-step through the strategies and how to implement them.
  • Unlimited access to the program through January 15, 2011, so you can close out the year and make your January 15 estimated tax payment (if necessary ).

Sign-up for the FREE Edition Now

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Take the first steps towards taming the alternative minimum tax monster. We have a bevy of tools to help you do that.

  • First, your free report The Tax Man Always Rings Twice—Will You Be Paying Even More in the Year Ahead? explains where the AMT stands today and what you can expect to happen with it in the near future. After you sign-up for the FREE edition, just login and go to FREE Alternative Minimum Tax Special report link to download it.
  • Second, be sure to take advantage of the free version of AMTIndividual at www.amtindividual.com. In just 10-15 minutes, you'll learn exactly what caused you to pay AMT on your last tax return as well as get some basic strategies for reducing your AMT liability in the year ahead.
  • Third, the AMT Blog at www.amtblog.com offers the latest information and analysis on how new laws and regulations could affect your next tax bill. You can even email your questions to our AMT expert.

We look forward to helping you lower your taxes so your money can go toward more important things—like investing for retirement and your chicldren's education, paying off bills or a well-deserved vacation!

And remember, you have nothing to lose except unnecessary donations to the IRS. Simply click on the "Start Now" button below. After you sign-up for the FREE edition, you'll immediately receive your username log-on and password so you can start outsmarting the AMT trap.

 

Sincerely,


George Bauernfeind
AMTIndividual
Plan Today, Save Tomorrow

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P.S. Don’t let the alternative minimum tax drain your bank account. Let AMTIndividual show you how to start shrinking your tax bill now.


AMTIndividual

23850 Via Italia Circle
Suite 1006
Bonita Springs, FL 34134

1-800-260-7494

Fax: 239-676-0716