A tax calculation designed to prevent taxpayers from escaping their fair share of tax liability by taking numerous tax breaks; it adds certain tax preference items back into adjusted gross incomeThe amount of income subject to federal income taxes. To determine AGI, subtract deductions (e.g., business expenses or IRA contributions) from gross income (employment income, interest income, divide... More. If AMT liability is greater than regular tax liability, the taxpayer must pay the AMT amount.
3622 Veterans Drive, Suite 3
Traverse City, MI 49684
Phone: 231-922-1615
Email: obaoffice@oldbarnacct.com
Traverse City, MI 49684
Phone: 231-922-1615
Email: obaoffice@oldbarnacct.com