Tax Services:

Alternative Minimum Tax (AMT)

The Alternative Minimum Tax (AMT) affects an ever-increasing number of corporate and individual taxpayers.  As a result, the application of this tax is an essential consideration in most tax planning. Sisterson is a firm that is well versed in both planning and compliance issues related to this complex tax.

Our tax professionals understand the intricacies of the AMT, including the following: 

• Adjustments and preferences
• Annual income tax planning
• Alternative tax net operating loss
• Calculation of minimum tax credit
• “Vanishing” minimum tax credit
• Impact of AMT on estimated taxes
• Interaction of the “Kiddie” Tax with AMT
• Effect of tax credits on AMT and the minimum tax credit
• AMT Considerations for Oil and Gas Operations
• Passive activity loss adjustments for AMT
• Re-computation of itemized deductions for AMT purposes
• Elections available to minimize AMT
• Application of the tax benefit rule in AMT situations
• Effect on at-risk and basis rules