FHA AMT and the mortgage broker

 

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When the Federal Housing Authority (FHA) made the Alternative Minimum Tax (AMT) apply to mortgage brokers, a lot of them got upset. Which should come as no surprise. You see, the IRS was disallowing business expenses on Schedule C and moving those expenses to the itemized deduction category. Of course, miscellaneous itemized deductions are not deductible for the AMT, so itemized deductions disappeared and mortgage brokers had to pay a lot more in taxes. Want to know what was done to reverse the mortgage broker's AMT problem? Read my new article titled How Mortgage Brokers Can Beat the AMT Caused by the FHA and IRS. Three ways our fact-filled article can help you: 1.     We'll introduce you to Cheryl Palm who took on the IRS and won! Cheryl worked in the mortgage business and was paid as a W-2 employee. She claimed her expenses as "employee business expenses" using IRS Form 2106. Then Cheryl realized she could put those expenses on Schedule C and save a bundle. The IRS said "no," but she kept fighting and finally emerged victorious. You'll find out how she did it when you Read the FREE article. 2.     You'll learn how Dan Butts kicked the IRS's butt. Mr. Butts, an Allstate insurance agent, decided not to get mad. He got even by proving in court that Allstate insurance incorrectly treated him as a W-2 employee. You'll learn more about his important case when you Read the FREE article. 3.     We'll tell you how the IRS lawyers fought the case. Say what you will about the IRS. Their attorneys can play rough. If you want to see what tactics they used (and why they lost key cases!), be sure to Read the FREE article. To get started, CLICK HERE. You'll get a no-obligation 7-day FREE trial during which you can read, not only the article I mentioned above, but all of our helpful tax-saving tips from the last two months. This trial is absolutely free and there are no strings attached. That's a personal promise. Sincerely, W. Murray Bradford, CPA Publisher Tax Reduction Letter www.bradfordtaxinstitute.com

 

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