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Old 01-04-2009, 03:58 PM
Junior Member
Join Date: Jan 2009
Posts: 1
AMT and witholdings

I am unsure on what to do with our withholdings. Our income is about 145000. We significantly increased contributions to our retirement funds, reducing income by about 20000. We have a large mortgage- about 400000 and our property taxes are 5000. We have had a lot withheld from paychecks to prepare for being subject to the AMT. When there is a patch, we get money back. If there was no patch last year, we would have had to pay. I would like to reduce our withholding to give us more take home pay, but are so fearful of the AMT. Is it worth the risk to make the move and be more flexible on our W-2'S? I am concerned about the changes that may come about with the new presidency......

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