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CPA Exam Blogger Daniela: How I Finally Understood AMT


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#1 cpanet

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Posted 09 July 2013 - 12:00 AM

Daniela resides in the great state of Pennsylvania. She begins her CPA Exam journey with the perspective of a Masters in Accountancy. Daniela has passed FAR and AUD so far with Roger CPA Review, and is gearing up for her third exam, REG. Follow her journey with us!
 

I have never really understood the Alternative Minimum Tax (AMT).  In my schooling, I think that AMT was mentioned briefly in one paragraph of the entire book.  Then when I got into public accounting, I heard AMT being thrown around a lot.  I still didn’t really know how AMT was calculated, I just knew that some people had to pay more tax and they were “in AMT.” I would often be asked if the client I was preparing a 1040 for was in
AMT.  I could answer yes or no because
the tax software automatically calculated the AMT but I could not answer why
the client was in AMT. 

Now I am finally able to answer some questions about AMT.  Roger’s video lecture on AMT and the notes in the book made me realize that AMT is as SIMPLE as PIE.  I wish that someone had been able to explain AMT so simply to me while I was in public accounting.  I know now that completing Roger’s REG course is going to make me a better tax accountant on top of being prepared to pass REG.  I can’t wait to see what other concepts click for me once Roger explains it.  He’s truly the best teacher I have ever had.

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