Ok guys, you have officially tortured me . This is one of the most complex tax topics in existence. Even if you work as a tax professional this topic is still complex. This was the second most requested tax topic video this year on the channel. Thanks for all the requests. I hope you were able to obtain a general understanding of how AMT works.
Really like how well this guy explains everything unlike most people in other videos I've seen. It's hard enough for me to learn this stuff without someone else making it more confusing by throwing the info out there with very little explanation if at all
Thanks so much Candice, your feedback means a lot to me. Ya they make this stuff way too confusing. I have to do mental gymnastics to try to break it down :)
Thanks A S, I took the Becker course as well when sitting for the CPA exam, and I 100% agree with you that they do not do the best job when it comes to trying to explain AMT. Shoot, to be honest it was hard for me to try to explain it as well in this video, but i'm really pleased to hear you found this helpful.
Hi Julia, glad this helped :) This one video took a long a time to make because I was trying to figure out how to break it down try to simplify it. I have to re-watch it sometimes myself or find my notes to remember all the intricate details of amt lol
***Leave any questions you have for me in the comments. This was a tough topic to produce on. I'm always open to constructive feedback of how I can make these complex educational tax videos better.***
Haha, glad you enjoyed it. That is how I picture the California tax bear and what better RUclipsr than delerious to display the terror of being attacked by it ;)
Ahh the great Tim Gearty........I spent too many hours with him studying Becker to earn my CPA license, but I feel honored to put in the same category as him. Thanks for the support Lars ✊
Huh ??? I usually get upset with our UNCLE in March; but now am upset already. Hopefully I don't let it ruin my Holiday or anyone else's. I did learn one important thing from this vlog...next March when meeting with my CPA, I tell him "Don't even mention AMT; just give me the bad news of how much Uncle wants"
Haha, sorry Ken I hope I did not upset you. Good news is most people do not have to pay alternative minimum tax so I'm hoping you can avoid it yourself. The trick is to keep your adjusted gross income as low as possible. My wife and I still make less than 200K per year so we have been able to dodge it. Under the new tax reform they have raised the exemption amounts for AMT so even fewer people should be subject to it. The reason I made this video is because I had 10 different people ask me to do a video on this topic. It was a challenge to make this one haha. Alternative minimum tax is like speaking a foreign language. If you find yourself paying AMT it actually means you are very financially successful and make a lot of money to be honest. My future tax videos should be easier to digest than this one. Thanks for the support Ken. God bless, and have a great Thanksgiving.
Haha! Not going to say I haven't thought about it.......at least i'm not crazy for being the only person to think about it lol Thanks Baby. I gotta tell ya, I love your videos on the cannabis industry. Keep up the great work.
Just a heads up, your hand out says "*** (Please note this handout is for educational purposes only and should be taken as legal or tax Advice)***" did you mean to put should NOT be taken as legal or tax advice??
@@MoneyandLifeTV No worries! I would hate for something small like that cause an unnecessary incident down the road! I appreciate the video. Learning all of this currently in my Tax 2 class and it's a real pain...
Thanks Hayden! Best of luck in your class. Ah..the learning pains of tax classes... I remember those days.........still remember those days lol. Once you are out of college and get licensed its called "CPE" Continuing Professional Education. The learning never stops once one boards the crazy tax train. ;)
Really glad you enjoyed this. Sounds like you are studying for CPA exam. I've only known a few people to use Gleim and be successful. It just takes a lot of reading and a lot of not taking. Depends on your learning style ultimately. I've always been a fan of video lectures, taking notes, and practicing problems. That is how I passed with Becker.
Beverly thank you so much for the positive. This one took a lot of time to make. Since we both live in CA maybe if we team up we can survive the bear attack 😜🤑🍾 Cheers and Happy New Year!
Hey Bikerdude good question. Trump removed AMT for corporations, but not for individuals. AMT still does exist, however, the exemption amount is much higher than it used to be so only a small percentage of society will be impacted. Most taxpayers are able to avoid it.
Ok guys, you have officially tortured me . This is one of the most complex tax topics in existence. Even if you work as a tax professional this topic is still complex. This was the second most requested tax topic video this year on the channel. Thanks for all the requests. I hope you were able to obtain a general understanding of how AMT works.
thank you so much, I am in USA for 3years and now am trying to pass my ea #1. your videos are life saving
Your overly simplified method is very helpful, Thanks! I understand now. I was confused by Beckers's explanation too (like many others).
Glad it was helpful! To be honest producing this video helped me understand it better.
Your explanation was far better than any textbook definition or RUclips video. Thank you!
Thank you Alex! That means a lot.
Really like how well this guy explains everything unlike most people in other videos I've seen. It's hard enough for me to learn this stuff without someone else making it more confusing by throwing the info out there with very little explanation if at all
Thanks so much Candice, your feedback means a lot to me. Ya they make this stuff way too confusing. I have to do mental gymnastics to try to break it down :)
@@MoneyandLifeTV❤❤ффффф❤ффффффффьффффййййййййййй1йййййййййй1ййффффффййййй😮йй е фффффффй мм ПК фмйнй1😊ййа1йййй
Thank you for the video! I was so confuse after watching Becker
Thanks A S, I took the Becker course as well when sitting for the CPA exam, and I 100% agree with you that they do not do the best job when it comes to trying to explain AMT. Shoot, to be honest it was hard for me to try to explain it as well in this video, but i'm really pleased to hear you found this helpful.
@@MoneyandLifeTV The video is very clear! And also thank you for putting out the word document!
Awesome, Thanks! My pleasure.
This guy is really good at explaining this stuff. I wish he was my accountant.
thanks for keeping it simple! needed a refresher after my out-dated tax course. Thanks
Hi Julia, glad this helped :) This one video took a long a time to make because I was trying to figure out how to break it down try to simplify it. I have to re-watch it sometimes myself or find my notes to remember all the intricate details of amt lol
***Leave any questions you have for me in the comments. This was a tough topic to produce on. I'm always open to constructive feedback of how I can make these complex educational tax videos better.***
Thank you! You are funny and explain in a clear way!
Free downloadable handout can be found here: www.dropbox.com/s/l9tjqk2k38e65ce/Alternative%20minimum%20tax%20Handout.docx?dl=0
Damn it even taxes have a multiverse lol
You simplified it in a way where the average person can understand it
This video was fun to make. Was a good a challenge to say the least.
Came to get an summary of AMT, got to watch Delirious get mauled by a bear hahahaha nice!
Haha, glad you enjoyed it. That is how I picture the California tax bear and what better RUclipsr than delerious to display the terror of being attacked by it ;)
Better than Tim Gearty on Becker CPA Review.Subscribed.
Ahh the great Tim Gearty........I spent too many hours with him studying Becker to earn my CPA license, but I feel honored to put in the same category as him. Thanks for the support Lars ✊
Huh ??? I usually get upset with our UNCLE in March; but now am upset already. Hopefully I don't let it ruin my Holiday or anyone else's. I did learn one important thing from this vlog...next March when meeting with my CPA, I tell him "Don't even mention AMT; just give me the bad news of how much Uncle wants"
Haha, sorry Ken I hope I did not upset you. Good news is most people do not have to pay alternative minimum tax so I'm hoping you can avoid it yourself. The trick is to keep your adjusted gross income as low as possible.
My wife and I still make less than 200K per year so we have been able to dodge it.
Under the new tax reform they have raised the exemption amounts for AMT so even fewer people should be subject to it.
The reason I made this video is because I had 10 different people ask me to do a video on this topic. It was a challenge to make this one haha. Alternative minimum tax is like speaking a foreign language.
If you find yourself paying AMT it actually means you are very financially successful and make a lot of money to be honest. My future tax videos should be easier to digest than this one. Thanks for the support Ken. God bless, and have a great Thanksgiving.
Absolutely legendary
*You should make stuffed yellow parrots and give them away when you hit 10K, lol.*
Haha! Not going to say I haven't thought about it.......at least i'm not crazy for being the only person to think about it lol Thanks Baby. I gotta tell ya, I love your videos on the cannabis industry. Keep up the great work.
*Thank you very much, my sir! We'll try our best to do so, thanks for the support!*
Sense of humor 😊
Is this thread still open? How can an AMT long term capital loss carryforward be used?
Thanks for this. Working on my EA and I was reading about AMT and was like "wtf"
Congrats on working on your EA. AMT is one of the most advanced tax concepts so if you can understand AMT you will be in good shape.
I believe you spelled “tentative” incorrectly. Otherwise, thank you for this video...it helps.
Doh! I hate spelling as you can see it isn't my strong suit ;)
Great explanation!
Just a heads up, your hand out says "*** (Please note this handout is for educational purposes only and should be taken as legal or tax Advice)***" did you mean to put should NOT be taken as legal or tax advice??
Huge thank you Hayden. I'll get that corrected. I meant to say "Do NOT take as legal or tax advice."
Thanks to you it is now corrected. Really appreciate you having my back :)
@@MoneyandLifeTV No worries! I would hate for something small like that cause an unnecessary incident down the road! I appreciate the video. Learning all of this currently in my Tax 2 class and it's a real pain...
Thanks Hayden! Best of luck in your class. Ah..the learning pains of tax classes... I remember those days.........still remember those days lol. Once you are out of college and get licensed its called "CPE" Continuing Professional Education. The learning never stops once one boards the crazy tax train. ;)
Thank you for the wonderful help
Thanks Muhammed!
very helpful video and information, what is your opinion regarding Gleim?
Really glad you enjoyed this. Sounds like you are studying for CPA exam. I've only known a few people to use Gleim and be successful. It just takes a lot of reading and a lot of not taking. Depends on your learning style ultimately. I've always been a fan of video lectures, taking notes, and practicing problems. That is how I passed with Becker.
Thank you for a informative, even entertaining, video on a complicated subject. I’m in CA, being attacked by the Grizzly bear. Ouch.
Beverly thank you so much for the positive. This one took a lot of time to make. Since we both live in CA maybe if we team up we can survive the bear attack 😜🤑🍾 Cheers and Happy New Year!
Thanks for this info
Thank you!
How does the foreign earned incone exclusion (2555) relate to AMT?
Very good effort
Thank you Siva :)
I heard that the most complicated taxes are AMT and kiddie tax.
Didn't Trump remove amt?
Hey Bikerdude good question. Trump removed AMT for corporations, but not for individuals. AMT still does exist, however, the exemption amount is much higher than it used to be so only a small percentage of society will be impacted. Most taxpayers are able to avoid it.
@@MoneyandLifeTV thank you.
CA income taxes feel like this: mauled to death by a grizzly bear 🤣
Emiliano Port
You overcomplicate this a little. It's not that complex.
That is wonderful news. Feel free to make a video.
@@MoneyandLifeTV Too busy studying for TCP
AdJESTments? hhaha
Woopsie :)
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