I am not an expert, just trying to figure this out myself.

The way I see it, the thing that is really going to bite people with that plan is the AMT and State income taxes.   AMT is 45K this year.  If you have an income of 150K and live in a state like Nebraska with a state income tax of 6.87%, much of the $10,000 state tax you pay will not be able to be expensed due to the AMT and will have to be paid with after tax dollars.

Now if you have a 300K income and 20K state tax bill, you are now paying up to 36% in taxes (FIT and Medicare tax) on money that you didn't even get and had to pay in state income tax.   Now if you move money forward and claim 555K in this year and 45K next year in a state with Income tax - Nebraska Residents would have to pay over 35K in State taxes this year which would be nearly impossible to expense next year with an income of only 45K.  (or would it if you kept it that low?) 

As I understand it, the property taxes, Interest expenses, and charitable deductions are also lost when subject to AMT.

Makes a fellow want to move to Texas, Wyoming, South Dakota, or Washington.  I'll leave Alaska and Nevada out.  I think Kansas made some nice changes for farmers this year.