American military thought has coined the expression 'Overall Strategic Objective.' When [British] officers first heard this they laughed; but later on its wisdom became apparent and accepted. Evidently this should be the rule, and other great business be set up in subordinate relationship to it.
The AMT was created in 1969 over outrage that 155 high-income households making over $200,000 at that time didn't end up owing any federal income tax. That $200,000 would be worth $1.3 million today.
Alternative Minimum Tax (AMT) Exemption Amounts. For tax year 2014, the Alternative Minimum Tax Exemption amounts increased to $82,100 for married filing jointly or qualifying widow(er) status, $41,050 for a married filing separately, $52,800 for single and head of household status, and $23,500 for estates and trusts.