Alternative Minimum Tax

[SUE]

A Client Makes Over 120,000 Does He Have Alternative Minimum Tax And How Much Can He Go On His 1040?

What Is A Statutory Employee?

[Jiggers]

Alternative Minimum Tax

Once again the questions is, "are you a tax professional"?

Look at form 6251 and follow the instructions to see if AMT applies.

[dyne]

statutory employees

You can enter statutory employees in Google and it will provide a defiinition of
statutory employees. They are people who are classified as employees by statute such
as insurance salesmen, certain truck drivers, etc.

[Ken]

statutaory employee

A statutory employee reports his earnings and deductions on a schedule C instead of treating it as regular income.

[Bees Knees]

A Client Makes Over 120,000 Does He Have Alternative Minimum Tax And How Much Can He Go On His 1040?

TTB, page 14-3 provides a good overview of the Alternative Minimum Tax. Page 14-2 provides a chart that compares AMT rules with Regular Tax rules. AMT exemption amounts are listed on page 1-4.

What Is A Statutory Employee?

A statutory employee is someone who is defined by the Internal Revenue Code as an employee. TTB, page 5-23 provides serveral categories of worker classifications, including independent contractors, common-law employees, statutory employees, and statutory non-employees.