RE: ``I need to hold for another 11 months to avoid that pesky 30% short term cap gains tax.`` Ease,
posted on
Mar 17, 2006 07:28AM
``I would be interested in some tax advice on how to minimize its` effect. ``
Unfortunately there`s not much you can do because for most of us middle class people, amt is geared to take a little more tax when someone is in a situation of taking a larger than normal deduction for certain itemized deductions - mainly the deduction for taxes and employee expenses (there are many more variations, but these are the most common ways you will be hit with amt, at least with my clients). To reduce your amt you`d have to reduce those deductions, which of course would increase your regular tax. If you`re subject to amt the only advice I could give you is to stop making so much money.