Final answer:
When at risk for AMT, taxpayers should consider accelerating income recognition and increasing itemized deductions.
Step-by-step explanation:
When considering the alternative minimum tax (AMT), a taxpayer should consider accelerating income recognition as a decision to potentially reduce their AMT liability. By recognizing income earlier, taxpayers can potentially decrease their taxable income under the AMT calculation and therefore lower the amount subject to the higher AMT tax rates. Increasing itemized deductions can also be beneficial as it reduces the taxpayer's taxable income under both the regular tax and AMT calculations, potentially decreasing their AMT liability.
Opting for a higher standard deduction does not directly impact the AMT since the AMT calculation does not consider the standard deduction. Lastly, utilizing tax credits strategically may not have a significant impact on the AMT calculation since they are generally not included when calculating the taxpayer's alternative minimum taxable income.