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Alternative Minimum Tax (AMT)

Business / Taxes / Alternative Minimum Tax (AMT): The alternative minimum tax (AMT) was designed to ensure that all taxpayers pay at least the minimum federal income tax for their income level, no matter how many deductions or credits they claim. The AMT is actually an extra tax, calculated separately and added to the amount the taxpayer owes in regular income tax. Some items that are usually tax exempt become taxable and special tax rates apply. For example, income on certain tax-free bonds is taxable. Increasing numbers of taxpayers trigger the AMT if they deduct high state and local taxes or mortgage interest expenses, exercise a large number of stock options, or have significant tax-exempt interest.
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Other Words for Alternative

Alternative Noun Synonyms: alternate, variant, choice, option, selection, possibility, substitute, surrogate
Alternative Adjective Synonyms: alternate, variant, (an)other, different, additional, substitute, surrogate
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Other Words for Minimum

Minimum Verb Synonyms: least, lowest, nadir
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Other Words for Tax

Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
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Tax Bracket

Business / Finance / Tax Bracket: Records kept by a firm's management that follow IRS rules. The books follow Financial Accounting Standards Board rules. MORE

Tax Books

Business / Finance / Tax Books: In the context of finance, the original cost of an asset less depreciation that is used to determine gains or losses for tax purposes. In the context of investments, the price of a stock or bond plus MORE

Tax Clawback Agreement

Business / Finance / Tax Clawback Agreement: The percentage of tax obligation for a particular taxable income. MORE