AMT “Patched” Once Again ? This Year’s Fix Also Includes 2011

A last-ditch effort on the part of liberal Democrats in the House to send the big tax cut extension bill back to the Senate has failed.  With last night’s favorable vote, an AMT Patch for 2010 and 2011 has now been passed by Congress, included as a part of “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.”  The bill now goes to President Obama, who is expected to sign it into law as soon as he receives it.


What the Patch actually does


As has been mentioned in previous articles, “the Patch” simply is an adjustment to the AMT exemption amount that individuals are allowed as a deduction in computing their Alternative Minimum Taxable Income.  The new law sets the 2010 exemption levels at $ 72,450 for married couples filing jointly and $ 47,450 for single individuals.  Without this adjustment, the exemption amounts would have reverted to their much smaller equivalents from ten years ago, with the unfortunate result that 28 million new taxpayers would have been pulled into the AMT for the first time.


Effect on those already in the AMT


While the Patch primarily is designed to keep the 28 million new taxpayers from getting caught in the AMT, there also is a significant benefit to the four million individuals already there.  This benefit is the avoidance of as much as additional AMT of nearly $ 8,000 for married folks and nearly $ 4,000 for singles, had the exemption levels fallen back to their levels a decade ago.


Taxpayers by level of income who benefit from the Patch


The IRS Statistics of Income report for 2008, just recently released, shows that the majority of AMT payers – 62% – fall within the $ 200-500,000 income range.  Taxpayers making between $ 100-200,000 comprise 22% of AMT payers while those in the $ 50-100,000 range make up another 5%.  Without the Patch, the number of folks at these levels and below filing the Form 6251, Alternative Minimum Tax – Individuals, would have grown dramatically.


Different types of taxpayers who benefit from the Patch


With respect to what types of taxpayers are affected by the Patch, the entire spectrum is included.  This includes employees receiving regular paychecks, self-employed individuals running their own businesses, and investors as well as retirees.  There are so many different ways of becoming ensnared in the AMT that its tentacles reach out and pull in every single category of individual taxpayer.


AMT planning between now and year-end


With only two weeks left in the year, much still can be done to lower an individual’s 2010 Alternative Minimum Tax liability.  The key to doing this is the fact that individuals are cash method taxpayers, and, therefore, income that can be pushed to 2011 will not be taxed this year (and vice-versa), and checks that can be written by December 31 become eligible deductions in 2010 (and, again, vice versa).  These types of changes will directly affect the calculation of an individual’s AMT liability.


As an example, the biggest single item pushing people into the AMT is the itemized deduction for state and local taxes.  This includes income taxes as well as real estate taxes, and it represents an AMT item that affects nearly 95 percent of all individuals who are stuck in the AMT.  The simple act of whether and to what extent an individual pays these state and local taxes by December 31, or waits until January 1, can represent a significant savings opportunity.


Don’t wait any longer – with the Patch now enacted, there’s no excuse for anyone not to be doing year-end AMT planning right now!

George Bauernfeind is with AMTIndividual, providing analysis, customized strategies, and an online dual tax calculator planner to help you reduce your Alternative Minimum Tax. Visit or to read more tax planning articles or to access this tax software on the Alternative Minimum Tax.

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Simple Ways to Limit Your Bank Fees

Say good-bye to bank fees. That’s something everybody loves to hear and everybody wants to achieve. How much does your bank charge for ATM fees, wire transfer fee, monthly account fees, minimum balance fee, debit card transactions, additional check fee, overdraft fees or return check fees? If you are not certain, then it’s important to take the time to find out exactly what you’re being charged. Banking fees are important to understand and properly address before accruing large amounts of unexplained fees that will likely result in immense frustration and stress. Educating yourself on the fees your bank could potentially charge you will help you to avoid unnecessary spending. Sounds good right? Keep on reading.

Bank fees can lead to a big headache if proper attention is not given. Because bank fees are part of banking and these small fees can accumulate over time, they can add up to a large sum of money when you’re not paying close attention. Awareness is a key factor in avoiding bank fees. The very first step in avoiding unnecessary bank fees is gaining awareness simply by educating yourself. Communicate with your banking associate and they will gladly clarify the details of each and every fee that you may encounter as a customer; this will help you to avoid potential bank fees.

Another way to reduce fees associated with banking is to get out the habit of using your ATM card. Using an ATM machine that does not belong to your bank could cost you anywhere from $ 1.50 to $ 3.00 per transaction, depending the policies of the ATM provider. Along with the ATM fees, your bank may also charge a fee in addition to that. Yet another reason to educate yourself on potential fees! Though ATM’s are meant for convenience, mobility and ease in financial transactions, there are fees associated with the benefits they provide. Most banks will not charge fees for those ATM transactions that are carried out on their machines.

Another common way account holders accrue fees is by failing to maintain a minimum balance. Some banks require account holders to keep a certain amount of money in their account and if you fail to do so, it could result in a fee being charged to your account. There are many banks out there that offer accounts that do not require a minimum balance on a monthly basis. A great way to avoid bank fees is by combining your accounts as there are some banks that will waive fees when the accounts are combined.

Non-sufficient funds and penalties for checks are considered to be the most expensive bank fee. In order to avoid these penalties, you need to maintain control over your finances and keep track of transactions that are deposited into and debited from your bank account. Balancing your checkbook on a monthly basis will assist in proper verification of your financial transactions and provide you with an understanding of your spending.


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You might have faced the problem of removing and connecting the devices regularly due to lack of connecting ports in the computer or Laptop. Now USB Hub will help you in getting rid of this problem. USB Hub will allow you to connect several devices simultaneously without any error. This product comes in various designs and with fixed number of ports. Some USB Hub comes with four connecting port while some others have ten connecting ports. 4 Port USB Hub Powered Coffee Tea Cup Mug Warmer, 4-Port USB 2.0 High Speed Cable Hub, Dog Bone 4 Port USB 2.0 Hub, USB 2.0 High Speed 4 Ports Octopus Hub, High Speed 4 Port USB Hub with Card Reader M2 TF, 480Mbps High Speed 10 Ports USB 2.0 Hub, Robot Shape Hi-Speed 4 Port USB 2.0 Computer Laptop Hub etc. are some models of USB Hub available for your use.

High Speed 4 Port USB Hub with Card Reader M2 TF is one of those models which is very nice for its performance point of view. It has 480Mbps speed of data transfer capacity and enables 4 ports in which four different devices can be connected at the same time without any difficulty. This USB Hub works great with any externally connected device but it is great for USB keyboard, USB webcam, USB mouse,   low-power USB Peripheries, USB sound card etc. This USB Hub operates at 5V DC and 500mA, it supports in all the computers or laptops that has Operating System of Windows ME or Windows 2000 or Windows XP or Windows Vista or Windows 7. It has an extra function of card reader (T-Flash, Micro SD) along with USB Ports. Size is small (0.6×2.6 inch) and so it is easy to put even in your pocket. This USB Hub has a box type compact shape with somewhat white colored. The most interesting thing about this USB Hub is that your computer will never ask you for the driver while connecting.

You are to choose according to your requirement. You can have one with more ports but do not have one with less ports than you require because later it can be annoying for you. has great collection of USB ports providing devices that are special for its own work. Designs are made attractive in accordance of its performing capacity. They will never give you a chance of problem like computer displaying notification message of “USB connected cannot recognized”.

DinoDirect China Limited ( is one of the biggest global online retailers. It offers a great quantity of products with competitive price by cutting the middleman and offering products directly to the terminal consumers. DinoDirect possesses a great many software products with proprietary intellectual property rights, owns technological superiority and an efficient marketing team among the similar industry.

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Jn0-522 Exam Resources

JN0-522 Exam
Juniper Networks Certified Internet Associate, FWV (JNCIA-FWV)
Exam Number/Code : JN0-522
Exam Name : Juniper Networks Certified Internet Associate, FWV (JNCIA-FWV)
Questions and Answers : 266 Q&As
Update Time: 2010-03-20
Price:$ 78.00

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Exam4test is the leader in supplying certification candidates with current and up-to-date training materials for Juniper Networks Certification and Exam preparation. Exam4test Juniper Networks JN0-522 exam resources are constantly being revised and updated for relevance and accuracy. We 100% guarantee the materials with quality and reliability which will help you pass any Juniper Networks certification exam.

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N10-004 CompTIA Network+ (2009 Edition)
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Most Impressive Credit Cards

Credit cards are one of several types of payment cards in the marketplace along with debit cards, ATM cards, Charge cards, Stored-value card and Fleet card. They are popular nowadays and convenient for customers. With a small, embossed plastic credit card, people can purchase anything from food and clothes to furniture without bringing a big amount of money in their bag. 


There are many different credit cards with special and beautiful designs around the world. Here are eight of the most impressive credit cards. Some of them are made of unique materials while others feature strange appearances.


Estonian Otto de Voogd used the famous Firefox logo for his new credit card design as he gave out a special offer from his bank named SEB Eesti Ühispank. Users can upload an image through a web interface and they will create a custom bank or credit card from the style. They can pick up the card from the bank a few days later. 

Otto de Voogd is a fan of firefox. He has made Firefox bankcards

This strange transformers visa can be found only in Japan

Visa designers from all over the world have created one hundred beautiful credit cards for Epos International of Japan. The credit card with chocolate sample seems to be the most delicious one.

Users can stop a bullet with this card because it was made of pure titanium

The Dubai First’s Royale MasterCard itself is so impressive with an embedded diamond in the center. It is definitely that making this card is worth more than most charges

If you are a fan of Futurama, you have already known this personalized Futurama credit card. This card can be used every time you buy something, but the cashier will always wonder about its mean

World of Warcraft is a popular game with millions of players nowadays. There is even a World of Warcraft Visa credit card for the World of Warcraft players.

This card looks simple, but it is a disguised USB 2.0 Flash Drive. It can store 8GB of data, so our files will not be lost or stolen.


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Top Creative Ice Cream Trucks

Interesting Facts about Money

I am the economic expert and analyze the economic situations in the world. Currently, I often address lectures on economic solutions to students and supply advice for companies and firms.

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Curious Numbers for Credit Cards

The Federal Reserve released its monthly minutes yesterday, and for the first time in recent memory, some parts of the outlook were fairly chipper. “Financial market conditions,” it states, have “generally strengthened, and surveys and anecdotal reports pointed to a pickup in household and business confidence.”

One piece of data that caught my attention was the Fed’s unemployment expectations. In an upward revision from its last meeting, the Fed now expects the jobless rate to be between 9.2% and 9.6% by late this year.

These are interesting numbers when compared with the Treasury’s recently completed stress test. That test which was used to determine whether banks were adequately capitalized under a worst-case scenario assumed that 2009 unemployment would fall between 8.4% in a baseline scenario and 8.9% in the worst-case scenario.

In other words, the Fed’s baseline outlook is grimmer than the Treasury’s worst-case outlook. These funny inconsistencies remind us why economics is an art, not a science.

Why fret over a handful of basis points, you say? Simple: According to some Fitch Ratings analysis, there’s a historical one-to-one correlation between unemployment and prime credit card charge-offs. That is, if the unemployment rate doubles, so does the credit card charge-off rate. It’s even worse for lower-quality cards.

When you’re talking about numbers this big, an increase in the charge-off rate of a few dozen basis points is nothing to sneeze at. And since the stress test’s goal was to adequately capitalize banks, the thought that more money may need to be raised in the future doesn’t seem far-fetched.

Will it be the end of the world for banks? For most, no. But when the Federal Reserve’s own projections challenge the Treasury’s stress test by what could equal billions of dollars of losses for several banks, there’s yet more reason to wonder whether the test was more of a confidence campaign than an objective and realistic analysis.

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