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Planning and Working With the Alternative Minimum Tax.

Planning and Working With the Alternative Minimum Tax

In light of recent changes to the AMT provisions for both noncorporate and corporate taxpayers, this book examines the ramifications of these changes and the means by which the practitioner can plan and work within their constraints. Organized into three basic units--Computation of the AMT, Special Rules, and Tax Planning--this reference gives detailed analysis of the alternative minimum tax and its implications for today's taxpayers. Section I, Computation of the AMT, is the most extensive and explores the AMT as it applies to all taxpayers. Section II, Special Rules, surveys special AMT rules and addresses the issues of depreciation methods (MACRS vs. ADS), AMT-PAL treatment, and the AMT-FTC computation. Also addressed are the book untaxed reported profits and the adjusted current earnings adjustments, as well as many special issues raised from these adjustments. Section III, Tax Planning, concentrates on many often overlooked strategies for treating the AMT. The work is enhanced through exhibits illustrating the methods of compliance and actual AMT tax forms completed based upon examples given in Sections I and II.

Harold S. Peckron, Commerce Clearing House, Inc., 4025 West Peterson Ave., Chicago, IL 60646, $17.50.
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Publication:The National Public Accountant
Article Type:Book Review
Date:Mar 1, 1990
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