AMT - Alternative Minimum Tax

Cassandra Hubbart, AOL

The Alternative Minimum Tax (or AMT) is an extra tax that was originally meant for the very rich, but is now affecting many in the middle class. Do you owe AMT?

All about AMT -- why a tax meant for the wealthy could apply to you

Kelly Phillips Erb Jan 21st 2010 @ 1:45PM EST Filed Under: Tax, Tax - AMT, Tax - Basics

Taxpayers love deductions and credits -- and why not? The number of deductions and credits in the Tax Code allows you to reduce your taxable income and tax due.

But what if you could deduct everything? What if your super pricey home meant your home mortgage interest deduction was sky high? Or if you paid exorbitant real estate taxes because of where you chose to live? Or if your miscellaneous itemized expenses related to your job were insanely expensive?

Continue reading All about AMT -- why a tax meant for the wealthy could apply to you

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Lan N. Nguyen Nov 10th 2009 @ 11:00AM EST Filed Under: Family Money, Insurance - Life Insurance, Tax - AMT, Tax - Advice

The recession may be over, but many families are still feeling the effects. Unemployment is at a record 10.2% and wages are flat. The cost of gas is taking a bigger bite out of paychecks, and home foreclosures were one fifth of home sales in September.

To help, WalletPop is launching an occasional series in which your personal financial questions will get answered by our experts. Leave your questions in the comments section below.

Question: As a single, self-employed mother of two, I need to buy life insurance. How much should I buy?
--Laurie W., 51, psychologist

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