Welcome, 2017! As the New Year
rolls around, it's always a sure bet that there will be changes to current tax
law and 2017 is no different. From health savings accounts to tax rate
schedules and standard deductions.
Tax Changes for 2017 on Alternative
Minimum Tax (AMT)
Exemption amounts for the AMT, which was made permanent by the American Taxpayer Relief Act (ATRA) are indexed for inflation and allow the use of nonrefundable personal credits against the AMT. For 2017, the exemption amounts are $54,300 for individuals ($53,900 in 2016) and $84,500 for married couples filing jointly ($83,800 in 2016).
We
are licensed in All States. We are affordable, experienced, and friendly. We
are an Authorized IRS e-file Service Provider. If you would like to schedule a
Free Initial Consultation to learn more about the tax preparation and tax
planning & compliance services we offer to businesses and individuals, send
us an e-mail or call Amare Berhie today at 651-300-4777 to schedule a
convenient time.
Amare Berhie, Senior Accountant
CEO, ABA Tax Accounting
651-300-4777
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