FEDERAL
Plan Now, Save Later
With a little smart tax planning now, taxpayers can face their 2007 Form 1040 knowing that they have saved on their tax bill. By December, taxpayers typically have a fairly accurate estimate of what their income and expenses for 2007 will total.
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INDIVIDUAL
Will 2007 Be the Year Congress Reins in the AMT?
Nearly 25 million American taxpayers will be staring down the barrel of the Alternative Minimum Tax (AMT) when they file their 2007 income taxes. That’s more than a fivefold increase from 2006, when four million taxpayers paid the AMT.
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The information contained in TaxView is for general purposes only and is not intended, and should not be construed, as legal, accounting, or tax advice or opinion provided by Geller & Company to the reader. This material may not be applicable to, or suitable for, the reader’s specific circumstances or needs. Therefore, the information should not be used as a substitute for consultation with professional accounting, tax, or other competent advisors.
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