There are some special situations that may affect your tax planning:
A quirk in the way Medicare Parts B and D premiums are figured is one.
Married couples with AGIs exceeding $170,000 and singles with over $85,000 of AGI
pay higher premiums for coverage. Premiums for 2018 will be based on 2016 income.
Consider whether tax moves you make now could push up or down premiums in 2018.
Watch out for the bite of the cutback in itemizations for upper-incomers.
The alternative minimum tax can throw a monkey wrench into your plans, too.
The AMT is owed to the extent it exceeds your regular tax liability. It has two rates:
26% on the first $186,300 of alternative minimum taxable income, and then 28%.
Deductions for many items are not allowed for the AMT: Personal exemptions.
The standard deduction. If you itemize, you must add back state and local taxes,
some medicals if you are age 65 or older, and most of your miscellaneous write-offs.