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Term of the Day for Thursday, October 7, 2010
Alternative Minimum Tax
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Today's issue is sponsored by Options Industry Council:
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Term of the Day Alternative Minimum Tax
AMT. An IRS mechanism created to ensure that high-income individuals, corporations, trusts, and estates pay at least some minimum amount of tax, regardless of deductions, credits or exemptions. It operates by adding certain tax-preference items back into adjusted gross income. While it was once only important for a small number of high-income individuals who made extensive use of tax shelters and deductions, more and more people are being affected by it. The AMT is triggered when there are large numbers of personal exemptions on state and local taxes paid, large numbers of miscellaneous itemized deductions or medical expenses, or by Incentive Stock Option (ISO) plans.
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here's a difference between the quality of a business and the quality of a management. If it's a strong enough business, it should be able to withstand poor management.
Keep reading this tip...
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Your credit report may have errors on it, and this can hurt your ability to borrow. That's why it's important to check your credit reports periodically and get errors resolved. Here we describe the best procedure to follow to make sure you're protected so that errors don't hurt you. We also list the contact information of the three large credit reporting agencies: Experian, Equifax, and Trans Union.
Click here to read the article...
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| Quote of the Day
The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter. - Warren Buffet
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