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Chapter 4

Chapter 4. Tax Planning and Strategies 租稅規劃與策略. How It All Began 所得稅如何開始的. In 1913, the 16th Amendment gave Congress the right to impose the first income tax 在 1913 ，第 16 次修正案，賦予國會徵收所得稅的權利。 Initial tax rates ranged from 1% to 8% 一開始的稅率為 1%-8%. Importance of Tax Planning 租稅規劃的重要性.

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Chapter 4

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  1. Chapter 4 Tax Planning and Strategies租稅規劃與策略

  2. How It All Began所得稅如何開始的 • In 1913, the 16th Amendment gave Congress the right to impose the first income tax在1913，第16次修正案，賦予國會徵收所得稅的權利。 • Initial tax rates ranged from 1% to 8%一開始的稅率為1%-8% Prentice Hall Inc.

  3. Importance of Tax Planning租稅規劃的重要性 • Taxes are your largest annual expense家庭的最大支出就是稅金 • The average American works more than 3.5 months just to pay his or hers taxes平均每個在美國工作的人，有3.5個月的所得都是在支付它的稅金。 Prentice Hall Inc.

  4. Recent Tax Law Changes最近稅法的修正 • The Economic Growth and Tax Relief Reconciliation Act of 2001 (The Tax Relief Act of 2001)2001年經濟成長和租稅寬減調整法案(2001年減稅案) • The largest tax cut in 20 years20年來最大的減稅法案 • The Jobs and growth Tax Relief Reconciliation Act of 2003 (The Taxpayer Relief Act of 2003)2003年工作與成長租稅寬減調整法案(2003年減稅法案) • Added to and sped up many of the changes outlined in the 2001 Act.改變及加速2001年減稅法案的進行 Prentice Hall Inc.

  5. The Two Tax Relief Acts – In a Nutshell兩大減稅法案主要內容 • Both acts implemented four primary changes to the tax laws兩大法案對稅法的四大改變 • Created a new 10% marginal tax bracket增加10%的稅率欄 • Lowered the rate of all existing marginal tax brackets所有各欄的稅率都降低了 • Reduced the capital gains tax rate from 20% to 15%長期資本利得稅由20%降至15% • Reduced the tax on dividends to 15% 股利所得稅率降到15% Prentice Hall Inc.

  6. The Jobs and Growth Tax Relief Reconciliation Act of 2003 2003年工作與成長租稅寬減調整法案 • Sped up the implementation of the provisions outlined in the 2001 Act.加速2001年減稅法案的進行 • Has a “sunset” provision date of 12/31/2010.在2010年底有”落日條款”。 • Eliminated the “marriage penalty” by expanding the 15% tax bracket and by increasing the standard deduction for joint filers.Increased the child tax credit from $600 to $1000 per dependent child under age 17.排除”婚姻處罰”的規定，例如增加15%稅率欄的適用，增加合併申報的標準扣除額。增加小孩的扣抵稅額，17歳以下的扶養親屬的扣抵稅額由$600 增加到 $1000。 Prentice Hall Inc.

  7. Income Tax Structure所得稅的結構 • Income tax – progressive tax meaning that the more you earn the more you pay所得稅—累進稅率意即賺越多錢的人繳越多稅 • Tax brackets – income ranges for which the same marginal tax rate applies課稅級距—適用同一邊際稅率的所得級距 • Marginal tax rate – percentage of the last dollar that you earned that will go toward federal income taxes邊際稅率—所賺得的最後一元所得，所課徵的稅率。 Prentice Hall Inc.

  8. Income Tax Structure (cont’d)所得稅的結構(續) • Average tax rate – average amount of every dollar you earned that was paid for federal income taxes平均稅率—你所賺的的平均每一元的所得，所繳的聯邦所得稅。 • Effective marginal tax rate – average amount of every dollar you earned that paid for all local, state, and federal income taxes plus Social Security taxes.有效的邊際稅率--平均稅率—你所賺的平均每一元的所得，所繳的地區、聯邦所得稅加上社會安全捐。 Prentice Hall Inc.

  9. Capital Gains Taxes資本利得稅 • Capital gains tax – can be postponed until you sell an asset for a profit資本利得可以等到出售資產取得利潤時再繳稅 • Short-term capital gains – gains made from assets held less than 12 months短期資本利得—持有資產在12個月內所賺取的利得 • Long-term capital gains – gains made from assets held for 12 months or longer長期資本利得—持有資產超過12月所賺取得資本利得 • Gains on primary home sales are tax free up to $500,000 per couple or $250,000 per individual, but some restrictions apply.出售主要住宅的資本利得，合併申報案免稅額提高到$500,000， 個別申報案免稅額提高到$250,000，但有一些限制。 Prentice Hall Inc.

  10. Tax Rates Associated With Capital Gains資本利得的相關稅率 • These rates are dependent on how long the asset is held as well as the marginal tax bracket of the owner.這個稅率基本上視持有資產期間及持有人的邊際稅率而定 • Short-term rate = marginal tax bracket of filer短期稅率=申報人的邊際稅率 • Long-term rate = 20%, unless you’re in the 10% or 15% tax bracket and then it is 10% (as set forth by the Economic Growth and Tax Relief Reconciliation Act of 2001)長期稅率= 20%,如果你的稅率級距在15%或10%，那稅率為10%。(2001年減稅法案訂定之) Prentice Hall Inc.

  11. How the Taxpayer Relief Act of 2003 Affected the Capital Gains Tax Rates 2003年減稅法案對資本利得稅率的影響 • Effective May 6, 2003:2003年五月六日生效： • Long-term rate of 20% reduced to 15% for taxpayers in the 25%, 28%, 33%, or 35% marginal tax brackets長期稅率由20%降到15%。 • Long-term rate of 10% reduced to 5%,對於邊際稅率為10%者，降到5% except for 2008 when the rate will be 0%到了2008年稅率為0%。 • Rates return to 20% and 10%, respectively, in 2009在2009年這些稅率各回升到20% 及 10%,。 Prentice Hall Inc.

  12. Tax Rates Associated With Capital Gains After 2000 2000年後資本利得相關稅率 • Only for assets purchased in or after 2001 and held for 5 years 只有在2001年以後取得資產而且持有5年者適用 • Long-term rate is 18%, or 8% if you are in the 10% or 15% tax bracket長期稅率降至18%，如果你的稅率為10%或15%則降到8% • Benefit eliminated by the Tax Relief Act of 2003, but may be relevant after 2008相關福利在2003年減稅法案排除，但在2008年後仍適用。 Prentice Hall Inc.

  13. How the Taxpayer Relief Act of 2003 Affected the Dividend Tax Rates2003年的減稅法案對擁有股利所得納稅義務人的影響 • Prior to May 6, 2003 dividends were taxed as ordinary income (applicable marginal tax bracket rate) while rates on long term capital gains were lower在2003年5月6日以前，股利所得視為一般所得，並無任何優惠，但是資本利得仍有優惠。Effective May 6, 2003 through December 31, 2008 dividends are taxed at the same rate as long term capital gains, or:2003年5月6日以後到2008年12月31日，股利所得課稅稅率與長期資本利得一樣。 • 5% for those in the 10% or 15% marginal tax bracket對於10%及15%課稅級距者，其稅率為5% • 10% for those in all higher tax brackets其他邊際稅率較高者，適用10%稅率。 Prentice Hall Inc.

  14. What Does This Mean For You?這些規定對你有何意義？ • Avoid frequent trading避免經常買進賣出 • Buy low-turnover, “tax managed” mutual funds買進低週轉率”租稅管理“的共同基金 • Buy individual stocks and make your own mutual fund買進股票，建立自己的共同基金 Prentice Hall Inc.

  15. Capital Gains Taxes On Homes出售自用住宅的資本利得稅 • Changes implemented by the Taxpayer Relief Act of 1997在1997年的減稅法案修正 • Gains up to $500,000 for couples and $250,000 for individuals exempt from taxes with no need to “rollover gain” as before合併申報案件可以享有$500,000， 個別申報案可以享有$250,000 免稅額 • Home must be your principal residence 房屋必須要是你的主要住宅 • Must have lived there 2 of the last 5 years在最近5年間必須居住2年以上 Prentice Hall Inc.

  16. Filing Status Classifications申報方式 • Single個人或單身 • Married filing jointly已婚合併申報 • Married filing separately已婚個別申報 • Head of household戶長 Prentice Hall Inc.

  17. Cost of Living Increases in the Tax Brackets反應生活成本提高調整課稅級距 • The tax brackets change annually to insure that no one pays more income tax just because earnings increased with inflation.每年調整課稅級距，以反應生活成本的提高。 • Bracket creep – a tax liability increase caused by inflation級距的爬行—因為通貨膨脹影響導致適用較高課稅級距的情形 • Example – the income minimum for the 25% tax bracket for joint filers increases from $56,800 in 2003 to $58,100 in 2004.例如—在2003年適用25%課稅級距的金額為$56,800 ，到了2004年提高到$58,100 。 Prentice Hall Inc.

  18. Paying Your Income Taxes支付你的所得稅 • Withholdings – tax payment from each paycheck, determined on the basis if income and W-4 form扣繳—於領薪水時扣繳，扣繳金額依據你的所得高低以及你所申報的W-4 申報書而定 • Quarterly estimated payments每季估計金額 • Payments with the tax return (the dreaded April 15th)於報稅時間(4月15日前)繳稅 • Withholdings from stock, retirement funds, and prize or gambling winnings對於股票，退休基金以及機會中獎扣繳 Prentice Hall Inc.

  19. FICA / Social Security FICA/社會安全稅 • Social Security – a mandatory insurance program administered by the federal government that provides support in the event of death, disability, health problems, or retirement.聯邦政府所主導的計畫，基於你的工作期間，提供死亡，失能，健康問題及退休給付。 • Tax rate of 6.20% of gross salary稅率為薪資總額的6.2% Prentice Hall Inc.

  20. FICA / Social Security (cont’d) FICA/社會安全稅(續) • Social Security income tax cap社會安全稅的課稅所得上限 • $84,900 (2002) • $87,000 (2003) • $87,900 (2004) • Income over this amount is not taxed.超過此金額的所得不再課稅。 Prentice Hall Inc.

  21. FICA / Medicare FICA/醫療照顧 • Medicare – a health care insurance program for elderly and disabled醫療照顧—聯邦政府的保險計畫用來照顧年長及失能者的健康照顧 • Tax rate of 1.45% of gross salary, with no annual cap稅率為薪資總額的1.45%沒有上限 • Total FICA tax rate – 15.3% (12.4% Social Security + 2.9% Medicare)總FICA的稅率為—15.3(12.4%社會安全及2.9%醫療照顧) • You are only responsible for half of the tax unless you’re self-employed.你只要支付其中的一半，除非你是自我僱用者。 Prentice Hall Inc.

  22. State and Local Income Taxes州及地方所得稅 • Most states impose an income tax; however, some, like Texas, do not.大部分的州都有加徵所得稅，但是一些州，如德州，則無。 • Local income taxes are uncommon; but some larger cities, for example, New York City, impose such a tax.地方所得稅並不常見，但是比較大的城市，如紐約市，則加徵所得稅。 Prentice Hall Inc.

  23. Other Non-Income-Based Taxes That You Face非以所得為基礎課徵的稅 • Excise “sin taxes” and state sales taxes – imposed when goods are purchased貨物稅”罪惡的稅”及州營業稅—在購買貨物及勞務時徵收的稅 • Real estate and property taxes – imposed annually or semi-annually on assets owned財產稅—對財產擁有人每年或每半年課徵的稅 • Gift and estate taxes – imposed when assets are transferred from one owner to another贈與與遺產稅—個人移轉財產給他人時課徵的稅 Prentice Hall Inc.

  24. Calculating Your Taxes計算你要繳多少稅 • Who has to file an income tax return?誰應該申報所得稅？ • Determining gross or total income決定所得總額 • Calculating adjusted gross income (AGI)計算調整後所得總額 • Subtracting deductions減去扣除額 • Claiming your exemptions申報免稅額 • Calculating your base income tax計算基本所得稅額 • Determining your credits決定你的抵減 • Determining your final tax liability決定應納所得稅額 Prentice Hall Inc.

  25. Who Has to File an Income Tax Return?誰應該要申報所得稅？ • Everyone who earns more than $17,500 must file an income tax return.所得大於$17,500 的人必須申報所得稅 • Some people who earn less, depending on age, filing status, and dependency status must file a return. 如果金額小於此數字，仍要視年齡、申報身分狀況，撫養親屬人數，才能決定是否要申報所得稅。 • (See the IRS website at http://www.irs.gov for more specific information.)可以到國稅局的網站http://www.irs.gov看更多資訊 • Dependents with more than $750 of unearned income must file.撫養親屬如果有超過$750的未賺得所得就必須申報。 Note: All thresholds are adjusted annually for inflation.注意：這些申報門檻是逐年調整的 Prentice Hall Inc.

  26. Sources of Taxable Income課稅所得的來源 • Wages, salaries, and tips工資、薪水及小費 • Capital gains, dividends, and interest資本利得，股利，及利息 • Alimony贍養費 • Pension funds and traditional IRA distributions退休基金及傳統IRA提領金額 • Business and farm income營利所得及農作所得 • Rental and royalty income租金及權利金所得 • Social Security and unemployment benefits社會安全及失業給付 Prentice Hall Inc.

  27. Sources of Tax-Exempt Income免稅所得來源 • Roth IRA distributions Roth IRA 提領金額 • State and local municipal bond interest (if you live within the issuing municipality)州及市公債利息 • Gifts and inheritances贈與及繼承 • Child support payments撫養小孩給付 • Federal income tax refunds聯邦所得稅退稅款 • Veterans’ and welfare benefits退伍軍人及福利給付 Prentice Hall Inc.

  28. Subtracting Adjustments to Calculate AGI計算調整後所得總額 • Alimony payments贍養費 • Selected moving expenses搬家費 • Selected traditional IRA and other retirement contributions傳統IRA和其他退休金提撥 • 50% for Social Security and Medicare (self-employed only)50%社會安全及醫療(自我聘僱者適用) • Penalties for early withdrawal提早提領退休金的罰鍰 • Student loan interest, with limitations學生助學貸款利息(有限制) Prentice Hall Inc.

  29. How the Tax Relief Act of 2001 Affected Your Adjustments to Income2001年減稅法案如何影響你的調整後所得總額 • Increased IRA contribution limit. 提高IRA提撥限額 • Included an IRA “catch-up” contribution provision for those aged 50 or over.包括對50歲以上的人”追加“提撥IRA條款 • Increased annual adjustment limit for student loan interest.提高每年調整助學貸款利息上限。 • Extended use of adjustments for student loan interest.擴大適用助學貸款利息的適用範圍。 Prentice Hall Inc.

  30. How the Tax Relief Act of 2001 Affected Your IRA 2001年減稅方案如何影響你的IRA • Increased IRA contributions 增加IRA提撥金額 • $2,000 在 2001 • $3,000 在 2002 到 2004 • $4,000 在 2005 到 2007 • $5,000 在 2008 (加上通貨膨脹調整 $500 增加額) • IRA “catch-up” contribution IRA”追加“提撥 • $500 在 2002 到 2005 • $1,000 在 2006 及以後 Prentice Hall Inc.

  31. How the Taxpayer Relief Act of 2003 Affected Your Student Loans 2003年減稅法案如何影響助學貸款 • Maximum of $2,500 adjustment for student loan interest paid, up from $1,500 in 1999調高學生助學貸款利息由1999年的$1,500提高到$2,500 ， • Elimination of the “60-month limit”排除60個月的限制 Prentice Hall Inc.

  32. Subtracting Deductions from AGI減掉你的扣除額 • Itemized deductions (Normally, you must first own a home to make itemizing cost effective.)列舉扣除額(一般而言，你必須擁有房子，來享受列舉扣除額。) • Medical & dental expenses醫療及牙齒費用 • Home mortgage interest expense房屋抵押借款利息 • Some taxes一些稅 • Gifts to charity慈善捐款 • Casualty and theft loss災害及竊盜損失 • Standard deductions標準扣除額 Prentice Hall Inc.

  33. IRS Limits on Itemized Deductions 國稅局在列舉扣除額的限制 • Medical and dental expenses – must exceed 7.5% of AGI醫療及牙齒費用必須超過調整後所得總額的7.5% • Selected tax expenses核准的稅捐費用 • Home mortgage and investment interest payments房屋抵押借款及投資利息支出 • Gifts to charity – Keep good records, but must have receipt if the gift is more than $250慈善捐款—如果捐款超過$250，必須保留紀錄 Prentice Hall Inc.

  34. IRS Limits on Itemized Deductions (cont’d) 國稅局在列舉扣除額的限制(續) • Casualty and theft loss – first $100 of loss is excluded, and remaining losses are deductible only to the extent they exceed 10% of AGI.災害及竊盜損失—損失在$100內不能扣除，剩下的損失只有在超過調整後所得總額的10%部分才可扣除 • Miscellaneous deductibles – must exceed 2% of AGI其他扣除額—必須超過調整後所得總額的2% • Percentage of itemized deductions lost for filers above a certain income level超過特定所得申報者列舉扣除額的百分比降低損失 Prentice Hall Inc.

  35. Standard Deductions標準扣除額 • Single個別申報 • $4,700 (2002) • $4,750 (2003) • $4,850 (2004) • Married filing jointly已婚合併申報 • $7,850 (2002) • $9,500 (2003) • $9,700 (2004) Note: thresholds are indexed to inflation 注意：這些門檻隨通貨膨脹調整 Prentice Hall Inc.

  36. Standard Deductions (cont’d)標準扣除額(續) • Head of household戶長 • $6,900 (2002) • $7,000 (2003) • $7,150 (2004) • Married filing separately已婚但個別申報 • $3,920 (2002) • $4,750 (2003) • $4,850 (2004) Note: thresholds are indexed to inflation注意：這些門檻隨通貨膨脹調整 Prentice Hall Inc.

  37. How the Taxpayer Relief Act of 2003 Affected the Marriage Penalty 2003年減稅法案如何影響婚姻處罰 • Reduced the marriage penalty for 2003 and 2004, rather than in 2009 as originally scheduled在2003年及2004年降低婚姻處罰，到了2009年恢復原有規定 • Standard deduction for couples, as a percentage of the standard deduction for singles, increased from 167% (2001 law) to 200% 已婚合併申報者的標準扣除額為單身的200%，在2001年的法案為167% • Top end of the 15% rate bracket for couples as a percentage of the top end for singles increased from 167% (2001 law) to 200%對於已婚合併申報者15%的課稅級距上限，提高到單身者的200%，原來在2001年的法案為167% • Both changes revert to original lower percentages for 2005 through 2008, but return to 200% in 2009-2010在2005年到2008年這些規定匯回復到從前，在事在2009年到2010年幼會提高到200% Prentice Hall Inc.

  38. Using Standard or Itemized??使用標準扣除額或列舉扣除額？？ • Take the larger of the two amounts選取兩者間較大的 • If close, consider bunching deductions如果接近，將你的扣除額綁在一起，然後隔年分別選擇列舉扣除額及標準扣除額 • Don’t let laziness or poor recordkeeping cost you money!不要被你的懶惰即差勁的記帳使你造成損失 Prentice Hall Inc.

  39. Additional Deductions for Elderly or Blind Taxpayers對於老年及盲人的額外扣除額 • Unmarried taxpayer未結婚者 • $1,150 在 2003 • $1,200 在 2004 • (如果同時為老年及盲人者可以加倍) • Married taxpayer已婚者 • $950 在 2003 • $950 在 2004 • (如果同時為老年及盲人者可以加倍) • Amounts shown are adjusted annually for inflation.這些金額是逐年隨通貨膨脹調整的 Prentice Hall Inc.

  40. Claiming Your Exemptions申報你的免稅額 • Exemptions are meant to provide most taxpayers with some untaxed income免稅額就是每人可從課稅所得中扣除的金額 • Personal exemptions (indexed to inflation)個人的免稅額(隨通貨膨脹調整) • $3,000 (2002) • $3,050 (2003) • $3,100 (2004) • Dependency exemptions撫養親屬免稅額 • Three-step dependency test三階段的撫養親屬測試 • Exemption phaseout 免稅額的遞減 Prentice Hall Inc.

  41. Calculating Your Base Income Tax on Taxable Income計算基本所得稅 • Tax tables in the booklet可在課稅表中查到 • Tax rate schedules – must be used if income exceeds $100,000如果你的所得超過$100,000必須自己計算 • Alternative minimum tax – to prevent the very wealthy from using the tax breaks to pay little or no tax最低稅負—避免非常有錢的人使用租稅漏洞減少繳稅或不繳稅 Prentice Hall Inc.

  42. How the Taxpayer Relief Act of 2003 Affected the Tax Rates 2003減稅條款如何影響你的稅率 2001 減稅法案(舊法) 2003 27% 30% 35% 38.6% 2004-2005 26% 29% 34% 37.6% 2006-2010 25% 28% 33% 35% 2003 減稅法案(新法) 2003-2010 25% 28% 33% 35% 注意:在2010以後,落日條款回覆到2000年的稅率: 28%, 31%, 36%, 及 39.6% Prentice Hall Inc.

  43. How the Taxpayer Relief Act of 2003 Affected the Alternative Minimum Tax 2003減稅法案如何影響最低稅負制 • AMT prevents the wealthy from paying little or no income taxes最低稅負制防止有錢人只繳一點點所得稅或不用繳稅 • For 2003 and 2004, the AMT exemption for unmarried and married taxpayers (and surviving spouses) increased, thus allowing more taxpayers to avoid the AMT在2003年級2004年最低稅負的免稅額提高，所以允許更多人避開最低稅負制 Prentice Hall Inc.

  44. The Tax Relief Act of 2001 and the Child Tax Credit 2001年減稅法案和子女抵減 • Child tax credit limits子女抵減限額 • $500在 2000 • $600 在 2001到 2004 • $700 在 2005 到 2007 • $800 在 2009 • $1,000 在 2010 • Phase-out of this credit begins when a single parent’s adjusted gross income (AGI) exceeds $75,000 or a couple exceeds $110,000 當單親家庭調整後所得總額超過$75,000 或者雙親家庭超過$75,000 時開始遞減 Prentice Hall Inc.

  45. The Taxpayer Relief Act of 2003 and the Child Tax Credit2003年減稅法案和子女抵減 • Child tax credit limits子女抵減限額 • $600 增加到 $1,000 在 2003 及 2004 • $700 在 2005 到 2007 • $800 在 2009 • $1,000 在 2010 • $500 在 2011(回覆到 2001 法案,因為落日條款) • Phase-out of this credit begins when a single parent’s adjusted gross income (AGI) exceeds $75,000 or a couple exceeds $110,000當單親家庭調整後所得總額超過$75,000 或者雙親家庭超過$75,000 時開始遞減 Prentice Hall Inc.

  46. Determining Your Credits決定你的抵減 • Child credit子女抵減 • Hope Scholarship credit希望獎學金抵減 • Lifetime Learning credit終生學習抵減 • Child and dependent care credit子女及扶養親屬照顧抵減 • Earned income credit (EIC)賺取所得抵減 • Adoption credit收養抵減 • Other credits, such as elderly and disabled taxpayer credits其他抵減，例如老人及失能抵減 Prentice Hall Inc.

  47. Other Filing Considerations申報的其他考量 • Picking the right form選用適當申報書 • Determining how to file決定如何申報 • Filing late or amended returns延遲申報或者更正申報 • Where to get help哪裡可取得幫助 Prentice Hall Inc.

  48. Choosing a Tax Form選擇申報書 • 1040EZ • taxable income less than $50,000課稅所得低於$50,000 • can’t itemize or claim dependents不適用於採用列舉扣除額及有扶養親屬者 • 1040A • taxable income less than $50,000課稅所得低於$50,000 • allows for more sources of income允許有較多所得來源 Prentice Hall Inc.

  49. Choosing a Tax Form (cont’d)選擇申報書(續) • 1040 “long form” 1040”長式”申報書 • allows the use of schedules允許用附表 • only form that allows you to itemize deductions唯一允許使用列舉扣除額的申報書 • Know the schedules認識這些附表 Prentice Hall Inc.

  50. How To File?如何申報 • Electronic Filing電子申報 • Refund within 3 weeks三週內退稅 • Less chance of processing error處理錯的的機會降低 • Cost?成本？ • Filing by mail郵寄申報 Prentice Hall Inc.

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