state and local tax deduction Archives

Understanding the Alternative Minimum Tax (AMT)

by Muhammad Taha Farooq | Aug 31, 2024 | Educational, Tax Related, US Taxation

Title: Understanding the Alternative Minimum Tax (AMT) **Introduction:** The Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure that high-income individuals pay a minimum level of tax, even if they qualify for numerous deductions and credits...

Top 10 Tax Deductions You Can’t Afford to Miss in 2024

by Muhammad Taha Farooq | Aug 14, 2024 | Educational, Tax Related, US Taxation

Title: Top 10 Tax Deductions You Can’t Afford to Miss in 2024 **Introduction:** Maximizing your tax deductions is one of the best ways to reduce your tax liability and keep more of your hard-earned money. However, many taxpayers overlook valuable deductions simply...