I live in CA where the cost of living is very high as I am sure you all know. To offset the higher cost of living the salaries are obviously higher. As a double income household, I've had to pay AMT 6 yrs running now.
I don't consider myself rich. Not OT rich, not MT rich or any kind of rich. Wife and I both work full time jobs and we do ok. And yet I'm paying what is basically meant to be a 'rich tax' mainly because of where I live. I wouldn't be over the AMT limit in say Louisiana or Texas with what would be the adjusted salary for location and cost of living.
Are there any others in the same boat?
This post was edited on 2/29 at 6:02 pm