The Alternative Minimum Tax: CNBC Explains
The Alternative Minimum Tax, also known as the AMT, is a portion of the US. tax code that affects high-earning individuals who lower their tax payments through deductions. However, the AMT is a tricky part of American taxation. Want to know how it's calculated? Salman Khan of the Khan Academy demonstrates.
From this video, you'll understand:
- How the AMT is calculated
- The relationship between the AMT and regular income tax