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 Congressional Reform Act of 2017

조세개혁과 절세 방안 2017 년 TAX 보고

트럼프 세제개편안을 보면 기업부담을 덜고 중산층에 좀 더 많은 세제혜택을 제공하는 것이 골자입니다. 2018년의 세율이 전반적으로 낮아졌으나 장기적으로 많은 인구가 소득 수준이 오르면서 높은 세율로 변하게 될 것으로 기대됩니다.

Income    Tax Rate

Income    Levels for Those Filing As:

2017

2018-2025 

Single

Married-Joint

10%

10%

$0-$9,525

$0-$19,050

15%

12%

$9,525-$38,700

$19,050-$77,400

25%

22%

$38,700-$82,500 

$77,400-$165,000

28%

24%

$82,500-$157,500

$165,000-$315,000

33%

32%

$157,500-$200,000 

$315,000-$400,000 

33%-35% 

35%

$200,000-$500,000

$400,000-$600,000

39.6%

37%

$500,000+

$600,000+

2018 tax rate is lower than 2017.

주정부세 와 지방세 재산세를 합하여 공제가 $ 10,000을 넘을 수 없읍니다. 표준공제는 SINGLE 의 경우 12,000($6,350) MFJ 부부종합보고 $24,000 (12,700 2017)으로 많은 납세자의 경우 표준공제로 전향하게됩니다. 베이지역의 고소득자의 경우 10,000의 제한은 항목별 공제를 받지 못하는 부분이 늘어납니다. 거주 주택의 몰기지 주택융자는 750,000이 공제 상한선입니다.  2018년의 공제를 반지 못하는 것에 대하여 2017년에 비용지출하여 2017년 보고에 공제하는것이 절세의 방안으로 보입니다.

몇가지 절세 할 수 있는 경우의 예를 들면 2018년의 비용을 2017년에 선불하는 겄입니다. 재산세, 자동차세등을 미리납부합니다.  세무보고 수수료등을  미리 내주십시요  2018년의 세무보고 비용은 공제 할 수 없읍니다.

2018년 장비등 사업투자를 선불하여 2017년에 공제 받읍니다. 

교회 또는 비영리단체에 2017년 헌금하는 것입니다.

소득의 자발적인 연기또는 지연으로 2018년으로 수금 또는 지불요청을 2018년으로 연기 하십시요.

합법적인 모든 공제와 감면credit을 활용하십시요. 401K 와 IRA 를 적극활용하십시요.

2016년도 세금보고 때  세금을 내셨으면 2017년 세금을 예납( 1월 15일 2018 까지)하여 벌금을 피하십시요.

Sean Park, EA, MBA 뱍승남 연방국세청공인세무사

Enrolled to Practice before the IRS

Fellow of the National Tax Practice Institute(NTPI)

1095 Branham Lane 202,San Jose, CA 95136

TEL; 408-448-0991 Cell 408-398-0610  fax 408-448-5643  

spark@mycroffice.com

spark@sparkrealty.com

Microffice Tax

Do It Now Before Jan 1, 2018 to Save Taxes. 

The Act creates the following chart. The income levels will rise each year with inflation. But they will rise more slowly than in the past because the Act uses the chained consumer price index. Over time, that will move more people into higher tax brackets.

Income    Tax Rate

Income    Levels for Those Filing As:

2017

2018-2025 

Single

Married-Joint

10%

10%

$0-$9,525

$0-$19,050

15%

12%

$9,525-$38,700

$19,050-$77,400

25%

22%

$38,700-$82,500 

$77,400-$165,000

28%

24%

$82,500-$157,500

$165,000-$315,000

33%

32%

$157,500-$200,000 

$315,000-$400,000 

33%-35% 

35%

$200,000-$500,000

$400,000-$600,000

39.6%

37%

$500,000+

$600,000+

2018 tax rate is lower than 2017.

Taxpayers can deduct up to $10,000 in state and local taxes. They must choose between property taxes and income or sales taxes. This will harm taxpayers in high-tax states like New York and California. Prepay any of these taxes by the end of the year to deduct them in 2017. You can usually prepay property taxes, but not state income taxes.

It doubles the standard deduction. A single filer's deduction increases from $6,350 to $12,000. The deduction for Married and Joint Filers increases from $12,700 to $24,000.

It reverts back to the current level in 2026. As a result, 94 percent of taxpayers will take the standard deduction. The National Association of Home Builders and the National Association of Realtors opposed this. As more taxpayers take a standard deduction, fewer would take advantage of the mortgage interest deduction.

That could lower housing prices. But this could be a good time to do that. Many people are concerned that the real estate market is in a bubble that could lead to another collapse

It keeps deductions for charitable contributions, retirement savings, and student loan interest. If possible, move any of these deductions from 2018 to 2017. You won't take them if you take a standardized deduction in 2018.

It limits the deduction on mortgage interest to the first $750,000 of the loan. Interest on home equity lines of credit can no longer be deducted. Current mortgage-holders aren't affected.

Taxpayers can deduct up to $10,000 in state and local taxes. They must choose between property taxes and income or sales taxes. This will harm taxpayers in high-tax states like New York and California. Prepay any of these taxes by the end of the year to deduct them in 2017. You can usually prepay property taxes, but not state income taxes.

The Act expands the deduction for medical expenses for 2017 and 2018. It allows taxpayers to deduct medical expenses that are 7.5 percent or more of income. Before the bill, the cutoff was 10 percent for those born after 1952. Seniors already had the 7.5 percent cutoff.  At least 8.8 million people used the deduction in 2015.  Move any of these expenses into 2017 if you think you'll take the standard deduction in 2018.

The Act repeals the Obamacare tax on those without health insurance in 2019.

Without the mandate, the Congressional Budget Office estimates 13 million people would drop their plans. The government would save $338 billion by not having to pay their subsidies.

The Act doubles the estate tax exemption to $11.2 million for singles and $22.4 million for couples. That helps the top 1 percent of the population who pay it. These top 4,918 tax returns contribute $17 billion in taxes. The exemption reverts to pre-Act levels in 2026.

It keeps the Alternative Minimum Tax. It increases the exemption from $54,300 to $70,300 for singles and from $84,500 to $109,400 for joint. The exemptions phase out at $500,000 for singles and $1 million for joint. The exemption reverts to pre-Act levels in 2026.  

The Act increases the Child Tax Credit from $1,000 to $2,000. Even parents who don't earn enough to pay taxes can claim the credit up to $1,400. It increases the income level from $110,000 to $400,000 for married tax filers.  

It allows a $500 credit for each non-child dependent. The credit helps families caring for elderly parents arried tax filers.  

The Act lowers the maximum corporate tax rate from 35 percent to 21 percent, the lowest since 1939. The United States has one of the highest rates in the world. But most corporations don't pay that much. On average, the effective rate is 18 percent. Large corporations have tax attorneys who help them avoid paying more. 

It raises the standard deduction to 20 percent for pass-through businesses. This deduction ends after 2025. The deductions are limited once the income reaches $157,500 for singles and $315,000 for joint filers. Pass-through businesses include sole proprietorships, partnerships, limited liability companies, and S corporations. They also include real estate companies, hedge funds, and private equity funds. Small business owners should delay any income they can until 2018 to maximize that deduction.

The Act limits corporations' ability to deduct interest expense to 30 percent of income. For the first four years, income is EBITDA, but reverts to earnings before interest and taxes thereafter. That makes it more expensive for financial firms to borrow. Companies would be less likely to issue bonds and buy back their stock. Stock prices could fall. But the limit generates revenue to pay for other tax breaks.

It allows businesses to deduct the cost of depreciable assets in one year instead of amortizing them over several years. It does not apply to structures. To qualify, the equipment must be purchased after September 27, 2017, and before January 1, 2023.

The Act requires stiffens the requirements on carried interest profits. Carried interest is taxed at 23.8 percent instead of the top 39.6 percent income rate. Firms must hold assets for a year to qualify for the lower rate. The Act extends that requirement to three years. That might hurt hedge funds that tend to trade frequently. It would not affect private equity funds that hold on to assets for around five years. The change would raise $1.2 billion in revenue.

The Act eliminates the corporate AMT.  The corporate AMT had a 20 percent tax rate that kicked in if tax credits pushed a firm's effective tax rate below that level. Under the

It retains tax credits for electric vehicles and wind farms. 

The tax plan helps businesses more than individuals. Business tax cuts are permanent, while the individual cuts expire in 2025. 

Among individuals, it would help higher income families the most. The Tax Foundation said those in the 20-80 percent income range would receive a 1.7 percent increase in after-tax income. Those in the 95-99 percent range would receive a 2.2 percent increase. 

1.   Delay income until 2018 (if possible). 

It’s also a good idea to try to delay income until January when the tax rates are lower, especially if you are a small-business owner. So if you are chasing up some customers or clients to pay the bill you sent them awhile ago, you might want to wait until January to really get aggressive on collecting.  In addition to lower tax rates, small business owners get a generous benefit starting next year of being able to deduct 20 percent of their business income tax-free.

“For taxpayers that do itemize, especially those with very high incomes, a little planning now could mean big savings,” says Clarke of Sentinel Trust, although she notes that over 60 percent of U.S. households take the standard deduction already, so they can rest easy.

2.  Make your business expenses now. 

If you pay union dues or a professional society membership fee (e.g. a chamber of commerce or bar association) or buy a lot of supplies for your job (e.g., professional musicians buying new instruments) that you normally deduct on your taxes, you’ll want to buy everything you can by year's end. At the moment, people who are classified as employees can deduct a lot of their unreimbursed business expenses on their taxes if the total is more than 2 percent of your adjusted income. But that deduction is going away entirely in 2018.

3  Try to prepay your 2018 property taxes. 

If you own a home, you are familiar with property taxes. At the moment, you can deduct your local property taxes from your federal income tax bill, but starting Jan. 1, there’s a $10,000 limit on all of your state and local taxes, including property taxes.

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Many people are rushing to try to prepay their 2018 bill now so they can take that extra deduction before the rules changes. It’s a tax trick that will only work for this year, but it’s worth trying.

What about prepaying state and local income taxes? 

“I did send a small check to the controller of Maryland prepaying some 2018 tax. I figured, why not?” Thuronyi says. The worst that can happen is the IRS rules you can’t take the extra deduction after all.

4  Give more to charity in 2017. 

Have you been meaning to donate a couch to the Salvation Army or Goodwill? Or do you feel it’s about time to give a little more to your religious institution or alma mater? If so, get it done by year's end. It helps reduce your income this year when tax rates are higher. Plus, you might not end up itemizing next year since the standard deduction is nearly doubling.

“A lot of people who itemize now won’t want to itemize next year, so they want to make sure they get a tax benefit in 2017 for that charitable contribution,” If you take the standard deduction in 2018, you won’t get any tax savings from your charitable contributions.

5  Max out as many other deductions as you can. 

The general rule of thumb is: Try to take the credit or deduction in 2017. For example, teachers can get up to a $250 credit for buying supplies for their students. That’s not going away, but it’s still more valuable in 2017 than next year.

“If you’re an educator and you’re deciding whether to buy something for your kids this year or next, you get a greater tax benefit from it this year,” Heim says.  He also recommends putting more money into your 401(k) or IRA retirement plans if you have the chance.

Another tactic is to try to prepay your home-equity loan interest. That deduction goes away next year, so it’s worth calling your bank and seeing if you can prepay at least some of the interest so you can get the tax savings in 2017.

Another deduction that’s going away in 2018 is for tax preparation services. Ask your accountant now for the invoice they would normally give you in April after they file your tax return. If you can pay it now, you can still deduct it.

“You can also try to prepay investment management fees, since those are going away too in 2018.”

6. Pay Estimated Tax by Jan 15, 2018

People who typically pay their state income taxes quarterly can easily pay the January installment now for not charged with penalties. For self employed it is not common to delay estimated taxes.

Spark Realty

Sean Park, Broker

dre: 01107739

1095 Branaham lane 202 , San Jose, CA 95136 

TEL 408-448-0991 cell 408-398-0610  fax 408-448-5643