The Alternative Minimum Tax, also known as the AMT, is a portion of the U.S. tax code that affects high-earning individuals who lower their tax payments through deductions. Want to know how it’s calculated? Salman Khan of the Khan Academy demonstrates.
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Tax deductions are an important part of calculating your annual income. But many people are unclear about how deductions affect overall tax payments. Salman Khan of the Khan Academy explains a simple calculation you can do, depending on your tax bracket, to help you estimate the effect.
For anyone who has computed taxes, “tax brackets” are a familiar term -- but how they work can be complicated. Salman Khan of the Khan Academy breaks down and explains the U.S. income tax schedule.
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