Deductions
“My CPA warned I am severely exposed to the Alternative Minimum Tax this year, what specific common deductions will I lose and how do I strategically plan around the AMT?”
The Alternative Minimum Tax often changes the value of several common deductions, so the real impact depends on the mix of itemized deductions, income sources, and timing of income and expenses in the current year. Items that are frequently affected include state and local taxes, certain miscellaneous deductions, and some investment-related or employee-related expenses, while the treatment of mortgage interest, charitable gifts, and capital gains can vary with the facts. Planning often centers on income recognition, deduction timing, and how large one-time transactions or equity compensation may interact with the AMT calculation. Working through the specifics with a CPA is the cleanest way to land on the right move.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I incurred massive personal credit card debt to fund my struggling business, is the crippling interest I pay on those cards tax deductible?”
“Can I deduct my new home office using the actual expense method without immediately triggering a red flag audit from the IRS?”
“I bought a heavy luxury SUV primarily for my real estate business, how does the Section 179 vehicle deduction actually work for passenger vehicles?”
“I use my personal cell phone extensively for my freelance work, what exact percentage of my monthly phone bill is safe to write off?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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