The bigger problem is that if you buy a home in CA, it will most likely put you into the “i need to pay AMT taxes” category because, under AMT calc rules, taxes paid which would have been itemized (state taxes, property taxes, etc), are not deductions under AMT.[/quote]
This is where small business owners really have a step up above all of us. The amount of write off that they can put in as “business expense” is huge.
quite frankly they get so much write off that at the end, they end up below the AMT radar.
AMT is really just a way to bring the upper middle professional class down in line with the middle class. The real rich doesn’t feel it at all.
