你们可能知道, 有重大的个人税收改革, 转帐和企业纳税人. Sorting through the new changes can be confusing and burdensome. Below are some of the significant changes that will impact our individual and business clients. Please take some time to review and let me or the tax team know if you have any questions.

个人

1. Personal exemptions suspended – in other words, personal exemptions no longer exist in 2018. 2017年金额4,050美元.
2. Standard deduction increased to MFJ $24,000, Single $12,000 and HOH $18,000. 2017年金额12,700元，单人6,350元，港币9,350元.
3. AMT (Alternative Minimum 税) exemption increased to MFJ $109,400, Single $70,300.
4. 扣减额:
   • 税es: The sum of property taxes and income taxes (or sales tax) is now limited and may not exceed $10,每个纳税人/家庭000. 2017年的金额通常不受限制.
   • Charitable contributions: AGI limitation increases to 60%. 2017年金额50%.
   • Mortgage interest: Limited to home indebtedness of $750k. 2017年的金额为100万美元加上HELOC的10万美元.
   • 医疗费用:超过7美元的费用可扣除.5%的AGI. 2017年金额10%.
   • 2%杂项分项扣除:取消. 以前, the sum of certain expenses were allowed once in excess of 2% of AGI. 这些费用包括税务准备费用, 投资费用, 爱好费用, 保险箱, 最重要的是, 未报销的员工业务费用. This has a large impact on employees who have out of pocket expenses related to their profession - home office deduction, 手机, 里程, 等.
   • 其他
     • Alimony is not deductible by payor and is not taxable to payee.
     • 搬家费用不再可以扣除.
     • Estate 税, GST, and Gift 税 exemptions increased to $10M/$20M. 之前5美元.5M & $11M.
     • Cryptocurrency(我.e. Bitcoin) is still treated as property - the sale is treated as a capital gain and taxability depends on holding period (short term or longer 
5. 税率:税率总体下降.

收入水平 & 税率

业务

1. C公司
   • 税率:统一税率21%. 财政年终纳税人使用混合税率. 2017年房价最高35%
     • 请注意，对于大多数小企业纳税人, the choice of a S corporation or Partnership will continue to be a desirable entity choice (of course, 需要考虑的各种因素). This is primarily due to the new Passthrough Deduction – see below.
   • 公司AMT被废除.
   • DRD (dividends received deduction): Change in overall rates depending on ownership.
   • Net operating losses: Carryforward allowed indefinitely but limited to 80% of taxable income. 不再允许携带. 以前, carryback and carryforward of NOL was allowed to offset taxable income with no limitations.
2. New Passthrough Deduction: New Section 199A deduction allowed for Qualified 业务 Income for Noncorporate taxpayers. Max potential is a 20% deduction off of taxable income – shortening the gap between individual passthrough rates and the new corporate tax rates. Special rules for service businesses and thresholds are based on W2 wages, 符合条件的财产和应纳税所得额的20%. Many details are involved – see rules for more information.
3. 业务 interest deduction: Limited to the sum of 30% of adjusted taxable income. 适用其他特殊规则. 以前, no limitations on business interest deductions.
4. 国内生产活动扣除额. 199): DPAD被废除. 以前, taxpayers participating in manufacturing/producing activities in the US were given a 9% deduction based on taxable income from those activities.
5. Methods of accounting: New exceptions that are applicable to businesses with average 3 years gross receipts of $25M or less. 以前，这些规则并不存在.
   • 现金的方法
   • 豁免维持存货
   • 免除UNICAP (S). 263A)
   • Exempt from percentage of completion method for long term contracts expected to be completed within two years.
6. Bonus Depreciation: 100% deduction for qualified property acquired and placed in service after 9/27/17. 合格财产包括新财产和二手财产. 以前, deduction was only 50% and property had to be brand new.
7. Improvement Property: The classifications qualified leasehold improvement, 合格的餐厅, and qualified retail improvement property are eliminated. One category will replace the previously used multiple classifications - Qualified Improvement Property (QIP).
   • 使用寿命39年
   • Technical correction may be made by Service to change life from 39 years to 15 years.
   • 不符合奖金折旧的条件
8. Section 179: Deduction increased to $1M with phaseout limitation of $2.5M. 在此之前，179是51万美元加上2美元.030逐步停止.
   • S. 第179条现在适用于
     • QIP(有效期39年).
     • Nonresidential real property improvements such as roofs, 暖通空调, 消防, 报警系统和安全系统.
9. Entertainment: Entertainment and recreational expenses are not tax deductible. 以前是50%免赔额.
10. 餐食:所有餐食都有50%的免赔额. 以前, certain de minimis and convenience of the employer meals were 100% deductible.
11. Transportation/Parking: Amount paid by employer for employee are not deductible or must be included in employee’s taxable wages to be deductible unless parking is for the safety of the employee. 以前，停车是一项不征税的附加福利.
12. Like kind exchange: Now limited to only transactions in real property. 以前，其他符合条件的有形财产(i.e. 车辆、设备).
13. International tax law: Various changes for businesses doing business internationally including a new one-time repatriation tax.