• page-slide-1

    Steven developed a thorough plan to meet our complicated needs with a blended family and special needs child in a timely manner. - Cheryl F.

  • page-slide-2

    Mr. Jackson made a tough process easy and painless! - Kyle M.

  • page-slide-3

    "Integrity, trust - a rare item - it's here! - Ron F.

What is AMT?

The Alternative Minimum Tax is a Tax Law that was put in place years ago to stop people who were “Wealthy”, but were not paying income taxes due to deductions. The “Wealthy” included anyone making approximately $45,000.00 per year and up.

When Congress created the Alternative Minimum Tax they “forgot” to put in a “cost of living” inflation factor. The approximately $45,000.00 that was for the “Wealthy” is definitely not considered “Wealthy” anymore. Inflation has pushed the numbers dramatically as our Cost of Living has increased and the value of our dollar has decreased, requiring more dollars to sustain ourselves.

Normally Congress will put in a one year “Patch” to have The Alternative Minimum Tax factor in “The Cost Of Living” increase to bring the tax number up to what is “Wealthy”. That has NOT been done in 2012. Therefore The Alternative Minimum Tax, if not altered before the end of the year, will raise taxes substantially on anyone making approximately $45,000.00 and up.

What can you do? You should be meeting with your Estate Planning Attorney, Financial Advisor, Accountant and Insurance Professional about what can be done before the end of the 2012 Calendar year. We currently have an extremely favorable Tax Situation that is going to end on December 31, 2012. The taxes are going to go up, it’s just a matter of how much. The White House has already taken the position that the re-election is a mandate to raise taxes.

Do meet with your Estate Planning Attorney, Financial Advisor, Accountant and Insurance Professional soon to see what Tax Advantages you can take advantage of this year.

At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.