Question about the Alternative Minimum Tax?

You might be able to put some money into a IRA.

the cheapest thing here after the IRA is simply to pay the ATM and kiss it good bye.

If you start a business and try the section 179 expense on startup it is illegal. Someone up there doesn't know tax law.

Go to a tax professional and have him run the figures through his software for you. I do this without charge for my clients.

I assumed that because your wife having unused vacation, that Your wife must have been under regular employment where she will get her w2 where the HR of her employer should have been doing their job to keep up with taking enough tax's depending on her accumulated income. Minimum tax usually paid for self employment earning or for earning more income such as cashing some stocks, rents, or early withdrawal of 401k etc... I suggest since we are approaching the end of the year to wait one more week so you and your wife file married filing jointly.

After that, you could plan better for 2010

Start a business before year-end. Incur start-up costs and claim those costs using the Section 179 exemption.

None.

This is exactly how the AMT works.