How Can an AMT Adjustment Be Avoided for a Taxpayer

question 111

Essay

How can an AMT adjustment be avoided for a taxpayer who incurs circulation expenditures in the current tax year?

Calculate a corporation's ordinary business income and distinguish between different income categories for tax reporting.

Understand the AMT exemption amounts for corporations and the phase-out thresholds.

Determine the tax liability and taxable income of a corporation based on given financial and operational data.

Understand the qualifications and disqualifications for electing Subchapter S status for corporations.