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The Alternative Minimum Tax (AMT) is a tax on your deductions. Yes, you read that right.Its an additional tax that is calculated and added to the regular tax computed. The AMT stealth tax works by eliminating or reducing taxpayer's deductions that one gets with the...

The Kiddie Tax was created by lawmakers to prevent taxpayers from shifting income to their children to take advantage of the child's lower tax bracket. This tax can arise also without income shifting as well.Does your child have investment accounts that generate income? If so,...

A self directed IRA is an individual retirement account (IRA)--classified as a Roth, Traditional, SEP, Inherited , or SIMPLE. Self directed allows the custodian to invest these funds into any investment allowed...

As a Certified Asset Protection Planner, I am aware that the use of a Cooke Island Irrevocable Trust is a powerful and legitimate planning tool for wealthy business owners, real estate developers, and physicians throughout the world. The Cooke Islands is a popular offshore haven,...

Lawmakers decided to allow dozens of tax breaks to expire after 2013, and most of them will not be retroactively revived until late 2014. They include the R & D tax credit, the deduction for state sales tax in lieu of income tax, and the...

Roth IRAs can be established and owned by anyone who has earned income and that, of course, includes children. As many savvy investors know, Roth IRAs offer the best tax treatment for investment income in the tax code. I have many clients who establish these...

The IRS continually analyzes compliance levels for entities by conducting hundreds of compliance projects and initiatives each year. When it comes to compliance, the IRS has increasingly focused on small business under-reporting, that is responsible for 84% of the 450 billion tax gap. At national...