You often suggest that we read your April 1994 newsletter but it's important that we know if the income amounts are curent. You say it "was written in 1994 and still appropos today." But the way it is written, the allowance of maximum income is not clear if it's $40,000 per individual & $80,000 per couple...either way, these seem to be low in 2007 terms . Is there an update in amounts?
This is what the newsletter says:
At "up to $40,000 US" for a couple, there is usually no tax payable to the US. After $40,000 per couple, an Alternative Minimum Tax can creep in. But do not worry. At $80,000 US, it will not be over $600.00. And, if you do not mind me saying so, if you are in the US for half the year, and you made over $80,000 US (about $105,000 Canadian), you can afford to pay $600.00 to the US. ---------------------------------------------
