I Can't Write Off Shit

Addendum to my previous post on being able to write off my memory stick;  my new tax accountant informed me yesterday that I can't, thanks to the "alternative minimum tax".  In fact, looking back at previous returns, it seems like my previous TWO tax accountants were just humoring me when I handed them my painstakingly constructed lists of write-offable-stuff when they agreed to put that information in the 1040.  So, props to Karen Block, my new accountant, for actually being honest...and this isn't exactly a sob story, because I guess the 'alternative minimum tax' is a mechanism targeted to prevent the wealthy from diving through loopholes, so that must mean I've been doing pretty well.

Comments

[James Jeffers]

Loopholes? From what?

Calling a tax deduction a loophole implies that the money you earned really belongs, in totality, to the government, and they are merely deciding on what percentage you get to keep.

So, please, more loopholes and tax shelters please.

[foobar33]

Uhm, the more loopholes rich Libertooneans use to avoid paying taxes, the more working stiffs without dozens of deductions have to shoulder their burden.

So, please, fewer loopholes and tax shelters please.

[GBGames]

Any reason given for why it isn't a tax deduction? I mean, the memory stick is for your job, right?

[Robert 'Groby' Blum]

Only kind-of related to the post - I assume you're in the L.A. area, right? I'm still looking for a tax accountant - mind sending me contact info for yours?

[hunter]

The AMT claims another victim. Some folks have noted that the AMT hits people in high state tax areas (NY, CA for example), which tend to be coastal, which also tend to be "blue" states. And that's why the current administration has no real concern about fixing it right now.