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by nn_77
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タグ:Alternative Minimum Tax ( 1 ) タグの人気記事

AMT in Online Newshour

   I found a website news on AMT, Alternative Minimum Tax, in Online Newshour, which website I’m introducing in the column on the right of my blog.

   Not only can you read the news, you can play the streaming Real Audio Player on it and can listen to them actually talking about the topic in English, which is a good & practical material for us to practice English. If you’re interested in learning English (and if you happen to be a USCPA exam candidate), please check it out!

   They are now covering the topic of AMT because “we are now, you know, this is tax weekend for those people who haven't finished their returns,” as you hear the anchorperson say in the news, which reminds us, USCPA exam candidates, that the return must be filed by 15th day of 4th calendar month following close of taxable year; if the close of the taxable year is Dec. 31st, then you must file a return by April 15 of the following year.
You can find the following conversation in the news program.

【QUOTE】---Friday, April 14, 2006-----------------------
JUDY WOODRUFF: So, Len Burman, what are some examples of the different way that this tax is applied than the regular income tax?

LEN BURMAN: Well, to start with, you can't take your personal exemption. So this tax really hits big families. All of those deductions you get for your kids, you can't get them on the AMT, so families with children are much more likely to be subject to the AMT than others. You can't deduct your state and local taxes. If you live in a tax with high state income taxes or if your property values have grown a lot, as they have in Washington and New York areas, those property taxes aren't deductible either. So those are two of the biggest items that will push people onto the AMT.

   The above talk between them explains what AMT is like in comparison with Regular tax system, though we, USCPA exam candidates, have to be noted that there are many other points to be tested in the exam.

   If I had no knowledge about US federal taxation system, I wouldn’t have been able to understand what they’re talking about. Studying for USCPA exam is substantially a good help for me to nurture my English comprehension. So I’ll keep working on this.
by nn_77 | 2006-04-16 18:51 | >REG | Comments(0)