Alternate Minimum Tax (AMT) Explained by the Experts
1h 43m | Slides with Detailed Notes Included
In this program, you will learn how to:
- Understand the fundamental principles of the Alternate Minimum Tax system
- Navigate the significant changes to AMT rules for 2024
- Calculate AMT using practical examples and our 7-Step Approach
- Implement effective tax planning strategies to minimize AMT exposure
- Apply AMT considerations to owner-manager remuneration decisions
Purchase | $150 CAD Start Learning
Ensure accurate AMT calculations and optimize your tax planning for better outcomes
Many businesses struggle with unexpected AMT liabilities or incomplete understanding of the AMT system, which can lead to misguided tax decisions and poor financial planning. Learn how to audit your AMT calculations to ensure you're properly assessing tax liability, identifying and addressing critical exposure areas, and meeting the new requirements. These skills will help optimize your tax planning approach, ensuring compliance while minimizing unnecessary tax payments.
Alternate Minimum Tax (AMT) Explained by the Experts
Program Length:
1h 43min. Slides with detailed notes included.
This course gives you in-depth insights on how to navigate the Alternate Minimum Tax system, ensuring your tax planning is accurate and effective. You'll learn how to identify exposure under the new rules, optimize deductions, and implement best practices for minimizing AMT liability. By mastering these skills, you'll enhance your tax planning processes, leading to more reliable financial outcomes and better decision-making.
After completing this program on AMT, you will be able to assist your clients with:
- Auditing tax situations for potential AMT exposure.
- Identifying and prioritizing AMT risk factors.
- Optimizing owner-manager remuneration structures.
- Implementing effective tax planning strategies.
- Calculating AMT liability and recovery opportunities.
This course is for you if you are responsible for:
- Managing tax planning for individuals or businesses.
- Ensuring accurate tax calculations and reporting.
- Identifying and addressing AMT exposure issues.
- Optimizing year-end tax planning decisions.
- Meeting tax compliance standards while minimizing liability.
Program Curriculum
Alternate Minimum Tax (AMT) Explained By The Experts
• Why AMT is Important
• Basic Calculation Framework (7 Steps)
• Who is Affected by AMT
• Key Differences Between Regular Tax and AMT
• Capital Gains Treatment (80% inclusion)
• Tax Shelter Deductions
• Dividend Gross-up Treatment
• Special Exemption ($40,000)
• AMT Rate Structures
• Broadening the AMT Base
• Increased Federal Rate (20.5%)
• Increased Exemption ($173,000)
• Capital Gains Treatment (100% inclusion)
• Changes to Deductions and Credits
• Treatment of Loss Carryovers
• AMT Exemption Cases (Death, Certain Trusts)
• Side-by-Side Comparisons of Old vs. New Rules
• Treatment of Capital Gains
• Treatment of Deductions (50% vs. 100%)
• Tax Credits Under AMT
• Provincial Tax Considerations
• Rate Differences by Income Type and Province
• Capital Gains Exemption Scenarios
• Interest Expense Combinations
• Trust AMT Issues
• Stock Options
• Donation Strategies
• Non-Resident AMT Situations
• Loss Carryforward Planning
• Corporate Structure Planning
• Timing of Capital Gains and Losses
• Managing Interest Expense
• Donation Planning
• Salary vs. Dividend Strategies
• Using the $250,000 Annual Capital Gains Allowance
• Trust Planning Considerations
Completing this program earns you a Verifiable CPD Certificate to help you meet your annual and triennial CPD requirements, including the minimum of 10 verifiable hours per year and 60 verifiable hours over a three-year period.
Hear From Our Learners
Alternate Minimum Tax (AMT) 101
- 2 Hours Verifiable CPD
- Led by Tax Professionals
- Presentation and Technical Corner
- Includes Slides, Notes, and Q&A
ABOUT THE PRESENTER
Michael Cadesky
FCPA, FCA, FTIHK, CTA, TEP (Emeritus)
Michael Cadesky is the managing partner at Cadesky Tax and a committed contributor to the tax and accounting professions since 1980, earning the title of Fellow from CPA Ontario. He is a past governor of the Canadian Tax Foundation, past chair of STEP Canada and STEP Worldwide, and past chair of the CPA Canada Tax Committee for Small and Medium-Sized Enterprises. Michael is also the co-author of 11 books on tax subjects and the author or co-author of numerous papers and articles on Canadian and international taxation.
ABOUT THE PRESENTER
Hugh Woolley
CPA, CA, TEP
Hugh Woolley is an independent tax consultant who has taught income tax for over 30 years for a number of different professional organizations. Hugh has written courses for CPA Canada and over 10 papers for the B.C. Tax Conference as well as papers for the CTF’s National Tax Conference and STEP Canada’s National Conference. From 1990–1992 he worked at the CRA’s Rulings Directorate in Ottawa writing “butterfly” tax rulings. Hugh is a past Governor of the Canadian Tax Foundation.
Get expert tax insights straight to your inbox.
An expert-led newsletter designed to help accounting professionals and tax practitioners navigate complex tax scenarios, deliver top-tier advice to clients, and stay ahead in the ever-changing world of tax preparation and planning.