Consider accelerating some extra taxable income if you’re sure that you’ll have to pay the Alternative Minimum Tax.

Watch Alternative Minimum Tax as the year progresses. If you’re near the borderline of paying the Alternative Minimum Tax, you should step away from “tax preference” items. On the other hand, some high-income taxpayers who can’t beat the Alternative Minimum Tax might as well join it. They should consider accelerating some extra taxable income if they’re sure that they’ll have to pay the Alternative Minimum Tax for the tax year without generating an Alternative Minimum Tax credit. That way, any extra income triggered this year will be taxed at a rate no higher than 28 percent.