jklcpa Posted March 18, 2010 Report Share Posted March 18, 2010 Out of curiosity, how do you all handle the AMT exemption when preparing your clients' 2010 tax projections? Do you use the $45K that it will revert to without a patch, or do you assume that Congress will extend and keep the exemption high? Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted March 18, 2010 Report Share Posted March 18, 2010 Normally, I would assume the patch. But with this congress (and I am pointing at both parties) being so fractional, I am not sure what will come out. I am afraid someone will attach some rider to the patch bill and it will get stalled over political bickering. This being a mid-term election year, I don't think anything tax wise will get done before the elections and then it might be impossible to get anything done at all. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 18, 2010 Report Share Posted March 18, 2010 I also will use the worst case scenario for tax planning. Can't predict this Congress very well. And, would rather pleasantly surprise my clients later than tell them to pay more in a later estimate or have them owing more next year. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.