Alternative Minimum Tax: What You Need to Know about the "Other" Income Tax

Essentially, another way taxpayers are forced to calculate their taxes-the Alternative Minimum Tax increases your tax bill by reducing many of the exemptions, deductions and credits you may have taken when figuring your regular taxes. Originally designed as a way for the rich to be forced to pay taxes, the Alternative Minimum Tax now has a very real impact on individuals with even a modest income.

The Alternative Minimum Tax is designed to give the average consumer and nontax professional an...