Tax Management Strategies The slideshow presentation that you would like to view is too large for your current screen resolution. Click here to view to view the slideshow at full resolution. Launch Presentation » Share | Related Content Will You Pay the AMT? Despite recent tax-law changes, many Americans are expected to pay the AMT this year. What Is a 1035 Exchange? 1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability. Federal Income Tax Use this calculator to estimate your income tax liability along with average and marginal tax rates.