Results 1 to 10 of 20
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12-07-2007, 10:32 PM #1
- Join Date
- Feb 2005
- Posts
- 7,620
- Location
- The Heart of Dixie
- Tractor
- Yanmar3110D, Kubota MX 5100 HST, Kubota ZD1021, Kawsaki Mule 4010 trans 4x4
AMT TAX ??
I have heard alot about this tax lately. I"ll admit I don't understand this tax but, have had several people tell me that they had to pay this tax last year & didn't like it.There was even a cartoon in the paper that showed a person being choaked it said this is regular TAXES. Then, another cartoon that showed soneone getting squashed with a hammer & it said this is AMT TAX. I sure hope I don't fall under AMT tax this year & from what I have heard, I hope none of you do either !!
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12-07-2007, 11:09 PM #2
- Join Date
- Aug 2001
- Posts
- 34,577
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
Re: AMT TAX ??
I'm not so sure this is the placed to discuss it. It can be extremely complicated, so why get tax advice at a tractor board? Do some web searches on the Alternative Minimum Tax and start reading. A good tax preparation software package should guide you through it and see if you have to pay it. Best of luck.
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12-08-2007, 04:57 AM #3
- Join Date
- Apr 2001
- Posts
- 12,111
- Location
- PA
- Tractor
- NH TC25D
Re: AMT TAX ??
The second link in a simple Google search for AMT explains all about it. Click here.
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12-08-2007, 10:19 AM #4
- Join Date
- Jul 2005
- Posts
- 1,746
- Location
- Linden VA
Re: AMT TAX ??
i know a lot about AMT being a CPA but i think Moss and Mike gave some good advice there.
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12-08-2007, 11:08 AM #5
- Join Date
- Apr 2006
- Posts
- 208
- Location
- North of Escondido, San Diego
- Tractor
- Kubota L4330****RTV 900
Re: AMT TAX ??
HRBlock has an AMT estimator Tax Estimator | Tax Calculator, Refund, Tax Estimator | H&R Block
Put in your numbers and you will see if you qualify. Congress is poised for another one year fix before the end of the year.
If you pay a lot of state and local income and property tax you are at risk of kicking in the AMT. It's basically a flat tax of about 26 %? after subtracting the AMT exemption and allowable deductions such as mortgage interest and charity.
Zeuspaul...who qualifies without the fix.
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12-09-2007, 08:51 PM #6
- Join Date
- Feb 2005
- Posts
- 7,620
- Location
- The Heart of Dixie
- Tractor
- Yanmar3110D, Kubota MX 5100 HST, Kubota ZD1021, Kawsaki Mule 4010 trans 4x4
Re: AMT TAX ??
Originally Posted by MossRoad
Does this also apply to those looking for hvac, plumbing, electrical, gas, automobile repairs, etc, advise on a tractor board
these can also be complicated questions. Why do those ask for this type of advice on a tractor board .There is also good reading on these subjects
What about gun questions ??This is a tractor board, as you say .so, whay ask gun questions ???
Last edited by kenmac; 12-09-2007 at 09:39 PM.
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12-09-2007, 11:02 PM #7
- Join Date
- Aug 2001
- Posts
- 34,577
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
Re: AMT TAX ??
Originally Posted by kenmac
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12-09-2007, 11:21 PM #8
- Join Date
- Jul 2006
- Posts
- 189
- Location
- alabama
- Tractor
- kubota 3130
Re: AMT TAX ??
Seems like a good question to me.
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12-10-2007, 04:34 AM #9
- Join Date
- Apr 2001
- Posts
- 12,111
- Location
- PA
- Tractor
- NH TC25D
Re: AMT TAX ??
Originally Posted by bamatoolmaker
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12-10-2007, 10:36 AM #10
- Join Date
- Dec 2003
- Posts
- 3,005
- Location
- North Central, Florida
- Tractor
- Kubota L-39 GST TLB, Kubota L3130GST, Massey 1030 HST, Kubota ZD-21 ProDecK, Two Euro VW TDIs
Re: AMT TAX ??
A Politican's Creed
Tax his land,
Tax his wage,
Tax his bed in which he lays.
Tax his tractor,
Tax his mule,
Teach him taxes is the rule.
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirts,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he tries to think.
Tax his booze,
Tax his beers,
If he cries,
Tax his tears.
Tax his bills,
Tax his gas,
Tax his notes,
Tax his cash.
Tax him good and let him know
That after taxes, he has no dough.
If he hollers,
Tax him more,
Tax him until he's good and sore.
Tax his coffin,
Tax his grave,
Tax the sod in which he lays.
Put these words upon his tomb,
"Taxes drove me to my doom!"
And when he's gone,
We won't relax,
We'll still be after the inheritance TAX!!Suck, Squeeze, Bang, Blow......GO Diesel GO!