I apologize for this being off topic for this board, but yall need to read the alternative minimum tax discussion thread on the MB. Some of you oil barons and high dollar folks as well as us poor folks here may be paying the IRS the money we were going to spend on that new boat or hunting trip we were planning on taking next year.
re: Important tax issue for the OB'ers here...(Posted by BFIV on 12/12/12 at 10:22 pm to El Josey Wales)
Don't feel bad, Josey. Lots of folks don't understand it, but they will understand it when they file their federal tax return. And yeah, we will be paying more taxes. LOTS more. There goes the new boat, hunting trip, and the new guns.
tigers win2 LSU Fan Baton Rouge Member since Oct 2009 2233 posts
re: Important tax issue for the OB'ers here...(Posted by tigers win2 on 12/12/12 at 11:12 pm to BFIV)
AMT has got me the last three years. Basically only charitable donations and mortgage interest count as a deductions. There's current talk of messing With Mortgage interest deduction in some form or fashion.