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.

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

Business / Taxes / Real Property Tax: A real property tax is a local tax on the value of real estate. The property may be assessed at full value, which is presumably the price that the owner could sell it for in the current market, or usi MORE

Tax Clawback Agreement

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

Tax Codes

Business / Debt / Tax Codes: Under the PAYE system of taxing income, tax codes are allocated annually to employees. These codes enable the employer to deduct tax at the correct rate from salaries or wages on a monthly (or weekly) MORE

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