2007-02-16 10:11:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It's the amount of deductions, not income, that trigger the AMT. While there are income limits that if someone is below, they will NOT get hit with AMT, there's not a level where, if they're above it, they WILL.
2007-02-16 13:57:23 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
That depends on the deductions and credits you claim. If you take the standard deduction and don't claim any credits, you won't be hit by the AMT at any income.
2007-02-16 12:35:12 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
If it is Canadian taxes, it is about $8839 personal deduction + $7505 spouse deduction + $250 for just working + $??? paid into CPP + $??? paid into Employment insurance. That equals to $16594 and plus for CPP & EI.
2007-02-16 10:25:17 · answer #3 · answered by Family S 1 · 0⤊ 1⤋