减少和避免所得税的艺术文献翻译

1、PAGE 原文：The Finne Artt of Reeducinng andd Avoiiding Incomme TaxxesStartinng witth thee Tariiff Acct of 1913, whicch enccompassses tthe fiirst iincomee tax on inndividduals folloowing the aadoptiion off the Sixteeenth Amenddment; taxppayerss havee beenn zeallouslyy atteemptinng to minimmize ttheir ta

2、x lliabillity. Unforrtunattely iin theeir deesire to acchievee thiss resuult vaariouss schemmes haave beeen deevisedd whicch borrder oon fraaud. TThis aarticlle expploress somee tax plannning iideas for iindiviidualss whicch mayy provvide ttaxpayyers tthe whherewiithal to atttain theirr goall-loweer

3、 inccome ttaxes. It shoulld be notedd, howwever, thatt befoore immplemeentingg any of thhe sugggesteed ideeas, iindiviidualss shouuld reeview them with qualiified counssel. CAPITALL GAINNS ANDD LOSSSES Under tthe Taax Refform AAct off 19699 the alterrnativve taxx on llong-tterm ccapitaal gaiins (gga

4、ins on thhe salle of capittal asssets held for MMORE tthan ssix moonths) has been modiffied. For ttaxablle yeaars beeginniing affter DDecembber 311, 19669 thee firsst $500,000 of loong-teerm caapitall gainns, foor inddividuuals, estattes annd trrusts, is ttaxed at 255%. Anny nett longg-termm capiita

5、l ggains (i.e. exceess loong-teerm caapitall gainns ovver shhort-tterm ccapitaal lossses) in exxcess of $550,0000 is tthen ssubjecct to an efffectiive maaximumm tax of 355% (500% of the ccurrennt maxximum tax rrate oof 70%). Neet shoort-teerm caapitall gainns (i.e. exxcess shortt-termm capiital ggai

6、ns over long-term capittal loosses) are stilll taxeed as ordinnary iincomee. At firstt blussh it wouldd appeear thhat siignifiicant tax ssavinggs couuld bee achiieved by sttructuuring saless of ccapitaal asssets tto obttain tthe beenefitts of the aalternnativee tax. In rrealitty thiis is only illuss

7、ory. The mmaximuum taxx saviings oone caan hoppe to achieeve viia thee alteernatiive taax proocedurre is only $5,0000.EXHIBITT A Maximumm tax on neet lonng-terrm cappital gainss 335%Maximumm tax on thhe firrst $550,0000 of llong-tterm ccapitaal gaiin 255%Differeence 110%Tax Savvings underr the Alter

8、rnativve Taxx; Firrst $550,0000 of Long-teerm caapitall gainn *10% $5,000 Probabbly moore innteressting is thhe facct thaat if the ttaxpayyers only incomme is long-term capittal gaains tthe allternaative tax pproceddure wwill AALWAYSS yiellds a HIGHEER taxx thann the normaal taxx compputatiion. TThi

9、s iis eviidenceed by the fact that the nnormall tax ratess are graduuated wheree the alterrnativve taxx is aa flatt 25% on thhe firrst $550,0000 of llong-tterm ccapitaal gaiins. IIf thee taxppayers nett longg-termm capiital ggain iis at leastt $50,000, the aalternnativee tax proceedure produuces aa

10、tax whichh is hhigherr thann the normaal taxx by $6,4800. EXHIBITT B $50,0000 of loong-teerm caapitall gainn at 225% $125000Tax on $50,0000-Scchedulle Y-1972 Tax RRate SScheduules $ 60200Increasse in Tax UUsing Alterrnativve Metthod $64800Also moodifieed by the TTax Reeform Act oof 19669 wass the ut

11、iliizatioon of net llong-tterm ccapitaal lossses (i.e. excesss lonng-terrm lossses oover sshort-term gainss) to offseet orddinaryy incoome. Basiccally, if aan inddividuual haas a nnet caapitall losss for the ccurrennt yeaar, hee may reducce hiss ordiinary incomme up to buut nott exceeedingg $1,0000.

12、 Net sshort-term capittal loosses are uused tto offfset oordinaary inncome on a dollaar-forr-dolllar baasis. Howevver, nnet loong-teerm loosses arisiing affter 11969, reducce orddinaryy incoome onn a twwo-forr-one basiss (i.ee. forrever $1 reeductiion aggainstt ordiinary incomme $2 of thhe lonng-ter

13、rm losss musst be used). It shoulld be notedd thatt in aapplyiing caapitall lossses too offsset orrdinarry inccome tthe shhort-tterm llossess are appliied fiirst. Moreoover, any llossess not used to reeduce ordinnary iincomee are carriied foorwardd to ffuturee yearrs rettaininng theeir chharactter a

14、ss eithher shhort-tterm oor lonng-terrm lossses. Indivvidualls whoo havee numeerous stockk trannsactiions sshouldd sepaaratelly commpute theirr stocck traansferr tax (geneerallyy showwn on the bbrokerrs addvice). Thiis taxx woulld be an ittemizeed dedductioon whiile inncreassing tthe neet prooceedss

15、 on tthe sttock ssale. Sincce thee tax has bbeen ddeductted frrom thhe nett preccedes itMust bee addeed bacck wheen claaimingg the tax aas a sseparaate deeductiion; ootherwwise iit wouuld bee deduucted twicee. In this manneer gaiins arre inccreaseed, loosses are rreduceed andd the indivviduall obtaa

16、ins aa fulll deduuctionn for the ttransffer taax at his nnormall tax brackket. TThe taax savvings achieeved bby thiis metthod iis surrprisiingly high. Tax plaanningg dicttates that a carreful analyysis oof thee taxppayers invvestmeent poortfollio iss madee to eensuree thatt the maximmum beenefitts a

17、ree achiieved when usingg the capittal gaains aand looss prrovisiions. Obvioously, the timinng of the ttaxpayyers sale of caapitall asseets beecomess cruccial.SHORT SSALES AGAINNST THHE BOXX-LONGG IN BBENEFIITS The sopphistiicatedd inveestor has bbeen aable tto utiilize the sshort-sale-againnst- tth

18、e-boox tecchniquue to contrrol thhe taxx timiing off capiital ggains. Althhough the iinvesttor, aat thee timee of tthe shhort ssale, has ffixed his ooveralll ecoonomicc gainn, thee taxaable ggain iis nott reallized untill the shortt salee is cclosedd out; thatt is, the ssecuriities are ddeliveered t

19、to thee purcchaserr. Morreoverr, priior too Auguust 19967 shhortinng agaainst the bbox waas alsso useed to circuumventt the wash-sale ruless. Cann thiss shorrt salle tecchniquue be furthher exxtendeed to complletelyy elimminatee capiital ggains on saales oof seccuritiies? HHere iis howw it wwould wo

20、rk. Mr. Smiith owwns 1000 shaares oof X CCo. whhich aare heeld byy his brokeer. Onn Septtemberr 1, 11973 hhe insstructts hiss brokker too selll thesse seccuritiies “sshort againnst thhe boxx. AAt thiis poiint Mrr. Smiith iss creddited with the pproceeeds off the sale, in aa shorrt acccount, whille s

21、tiill maaintaiining his llong ppositiion inn X Coo. Stoock. TThus, theree is nno taxxable eventt as yyet. NNormallly Mrr. Smiith woould tthen cclose out tthe shhort ssale iin Jannuary 1974, effeectiveely poostponning tthe reecogniition of caapitall gainn fromm 19733 to 11974. This is thhe staandardd

22、 trannsactiion. HHoweveer, Mrr. Smiith haas no intenntion of cllosingg out the ttransaactionn duriing hiis liffetimee sinccere ccan obbtain a subbstanttial aamountt of ccash iimmediiatelyy withhout iincurrring aany taax. TThe reesultss woulld be as foollowss: 1. DURIING HIIS LIFFETIMEE. No recoognit

23、iion off capiital ggain oon thee salee of 1100 shhares of X Co. Sincee the sale was nnot cllosed out. 2. MR.SSMITHS ESTTATE.The posssibillity oof no recoggnitioon of capittal gaain. TThe taax bassis off the 100 ssharess of tthe X Co., held in thhe lonng possitionn, wouuld taake onn a stteppedd-up ee

24、statee tax valuee. If thesee secuuritiees aree thenn usedd to cclose out tthe shhort ssale, the ssteppeed-up basiss woulld Thiis exccerpt on shhort ssales is reeprintted byy permmissioon froom Mr. Malaagas Shorrt Salles Aggainstt the Box-LLong iin bennefitss,” Coopyrigght 19969 byy the Ameriican IIn

25、stittute oof Cerrtifieed Pubblic AAccounntantss, REDDUCINGG AND AVOIDDING IINCOMEE TAXEES preesumabbly bee equaal to or grreaterr thann the origiinal pproceeeds reeceiveed, heence nno cappital gain. Althhough the eestatee mustt incllude tthe vaalue oof thee 100 sharees of X Co., helld in the llong p

26、positiion, iin thee grosss esttate iit alsso hass an oobligaation to deeliverr 100 sharees of X Co. to cclose out tthe shhort ppositiion annd to that extennt wouuld bee entiitled to ann estaate taax dedductioon undder Seectionn 20533(a) (4). FFurtheermoree, thee resuultingg taxxable estatte” woould

27、nnot bee affeected by thhe shoort saate aggainstt the box. 3. ESTTATESS INCOOME TAAX. The IRSS may take the ppositiion thhat thhe covveringg of tthe shhort ssale, by thhe esttate, is inncome in reespectt of tthe deecedennt (Seectionn 691). If this view can bbe subbstanttiatedd, whiich iss quesstiona

28、able, any gain on tthe shhort ssale wwould now bbe inccludedd in tthe esstates fidduciarry retturn. The ccomputtationn of tthis taxabble gaain rraisess the folloowing questtion: What is thhe bassis off thosse shaares ddeliveered tto cloose ouut thee shorrt salle? Prresumaably tthe IRRS possitionn wo

29、ulld be that such basiss is tthe deecedennts bbasis at thhe timme thee shorrt salle wass enteered iinto. Mr. Smiith haas gaiined eeconommicallly in this entirre traansacttion. He coould cconceiivablyy obtaain 900% of the pproceeeds onn the shortt salee in ccash, sincee onlyy a 100% marrgin rrequirre

30、mentt is iimposeed by the SSEC. Howeverr, thee conssensuss of tthose brokeers quueriedd indiicatedd thatt the invesstor ccould only obtaiin appproximmatelyy 20% in caash immmediaately, therreby mmaintaainingg the curreent maargin requiiremennt of 80%. In thhe altternattive, Mr. SSmith couldd leavve

31、thee procceeds from the sshort sale in hiis acccount and uutilizze theem to acquiire addditioonal ssecuriities. Since tthe inndividdual bbrokerrage ffirms have set uup theeir owwn reggulatiions rregardding aa shorrt salle agaainst the bbox, tthey sshouldd be qquestiioned as too the econoomics involl

32、ved pprior to ennterinng intto anyy propposed sale. Notee, howwever, thatt a shhort ssale oof stoock duuring the tthree year holdiing peeriod for sstock acquiired tthrouggh thee exerrcise of a qualiified stockk optiion iss a diisposiition and iis taxxed ass ordiinary incomme. TThis iis thee 1RS posi

33、ttion iin a rrecentt ruliing. (Rev. Rul. 73-992). SUBCHAPPTER SS CORPPORATIION Tax wisse, thhe Subbchaptter S Corpooratioon proovidess the ownerrs of a cloosely held compaany thhe meaans foor sollving certaain buusinesss prooblemss. Whaat is a Subbchaptter S Corpooratioon or what some tax ppractiiti

34、oneers caall a tax-ooptionn Corpporatiion? BBasicaally, it iss a coorporaation whichh may electt to hhave iits inncome taxedd direectly to itts shaarehollders avoidding, the ttax att the corpoorate levell. Inccome receiived bby thee sharreholdders aare taaxablee to tthem wwhen rreceivved whhile uund

35、isttributted coorporaate pprofitts aree taxeed to the sshare- holdders aas if they distrributeed on the llast dday off the corpooratioons ttaxablle yeaar.These pprofitts aree alloocatedd to tthe shharehoolderss on aa pro rata basiss in aaccorddance with theirr stocck ownnershiip on the llast dday of

36、f the corpooratioons ttaxablle yeaar. Hooweverr, thee compputatiion off a neet opeeratinng losss of the ccorporrationn whicch is allowwed too sharreholdders aas a ddeducttion iis morre commplex. Eveery inndividdual wwho waas a ssharehholderr AT AANY TIIME duuring the ttaxablle yeaar, inn whicch thee

37、 Subcchapteer S CCorporrationn susttainedd a looss, iis perrmitteed a ddeducttion ffrom ggross incomme forr his portiion off suchh losss. Thee sharreholdders portiion off suchh losss is tthe coorporaations daiily neet opeeratinng losss (neet opeeratinng losss divvided by thhe nummber oof dayys in th

38、e ccorporrationns taaxablee yearr) asssignedd on aa pro rata basiss to tthe sttock oowned by thhe shaarehollder oon eacch dayy of tthe taaxablee yearr. Butt in nno eveent shhall tthe deeductiion foor succh losss excceed tthe shharehoolders adjjustedd basiis of his sstock in thhe corrporattion pplus

39、aany inndebteednesss owedd him by thhe corrporattion. To quallify tto eleect thhe Subbchaptter S statuus, thhe folllowinng reqquiremments must be meet: 1. Thee corpporatiion muust bee a doomestiic corrporattion; that is onne orgganizeed undder thhe lawws of the UUnitedd Stattes. 2. The corpoorate ow

40、nerrship may NNOT exxceed 10 shharehoolderss. 3. The shareeholdeers muust onnly coonsistt of iindiviidualss or eestatees. 4. A noonresiident alienn may NOT bbe a ssharehholderr. 5. The capittal sttructuure off the corpooratioon musst connsist of onnly onne claass off stocck. Iff thesse reqquiremment

41、s can bbe mett thenn somee tax plannning ttechniiques may bbe empployedd, usiing thhe Subbchaptter S Corpooratioon, too achiieve ttax beenefitts. 1. Acccumulaated EEarninngs Taax Prooblem Under SSectioon 5311, corrporattions formeed or availled off for the ppurposse of avoidding tthe inndividdual ii

42、ncomee tax with respeect too its shareeholdeers arre subbject to thhe acccumulaated eearninngs taax. Thhis taax is 27 1/2% off the firstt $1000,000 of acccumullated taxabble inncome plus 38 1/2% onn any excesss acccumulaated ttaxablle inccome oover tthe fiirst $100,0000. TThese high ratess are used

43、as a deterrrent againnst acccumullatingg corpporatee incoome raather than distrributiing suuch inncome to shharehoolderss as aa diviidend. One excceptioon is that, duriing thhe perriod aa Subcchapteer S eelectiion iss in eeffectt, thee corpporatiion iss not subjeect too the accummulateed earrningss

44、tax. Undeer thee Subcchapteer S rrules all ttaxablle inccome iis “deeemed disttributted annd theereforre is not availled off for the ppurposse of avoidding tthe inndividdualREDUCINNG ANDD AVOIIDING INCOMME TAXXES One notte of cautiion iss neceessaryy howeever. If tthe coorporaation were estabblishee

45、d forr the speciific ppurposse of tax aavoidaance, the IIRS coould ddisreggard tthe enntire set-uup. AA valiid bussinesss purppose ffor crreatinng mulltiplee corpporatiions sshouldd be ssoughtt. Forr exammple, it maay be soundd busiiness acumeen to have separrate ssellinng andd manuufactuuring corpo

46、oratioons. Shiftinng of incomme amoong meemberss of aa famiily maay be accommplishhed thhroughh the utiliizatioon of the SSubchaapter S proovisioons. UUndisttributted taaxablee incoome off a Suubchappter SS corpporatiion iss alloocatedd to iits shharehoolderss on tthe laast daay of the ccorporration

47、ns taaxablee yearr. Theereforre, giifts oof stoock beefore the yyear-eend too low-brackket taaxpayeers wiithin the ffamilyy woulld shiift coorporaate prrofitss to tthe doomes. Bear in miind hooweverr, thaat thee IRS has tthe auuthoriity too alloocate incomme to a shaarehollder tto refflect the vvalu

48、e of hiis serrvicess to tthe coorporaation. Source: Stanleey Malagga,20006 “The Fine Art of Reeducinng andd Avoiiding Incomme Taxxes” . Journnal off the Acadeemy off Markketingg Scieence, vol. 1, noo.1, Januarry,pp. 34-422.译文： 减少和避免所得得税的艺术从1913年有有关税法开始始，包括个人人所得税后第第16修正案案得以采用，纳纳税人必须试试图竟可能的的减少说物的的负担。不

49、幸幸的是，在他他们实现愿望望的过程里却却在不同的层层面上被欺诈诈。本文从个个人所得税筹筹划方面来让让纳税人实现现用最少的钱钱来交纳必要要的税款。然然后值得注意意的是，在实实施这些想法法之前，人们们应该先评估估一下你的法法律顾问。资本得利和盈亏亏在1969年税税收改革法案案中，另一种种税(销售收收益资产的销销售适用超过过6个半月）已已经被修改了了。19699年12月331日新税发发实施开始，首首次为个人、房房地产和信托托，长期资本本收益在5万万美元的人群群观众，是按按25%。每每位得到长期期的资本收益益(及多余的的长期的资本本收益超过短短期资金亏损损）超过5万万美元的人群群中，就需要要进行最大税

50、税收达35%(最高税率率70%的一一半）。得到到短期资本收收益(即多余余的短期资金金的收益）却却仍然长期资资本亏损与普普通人纳税收收入相同。起起初，这重要要的税金节约约额似乎可以以通过构建有有利资本的销销售额从替换换税中得到好好处。事实上上这只是虚幻幻。人们希望望能通过另一一种税收程序序达到最大的的税金节约额额只有5万美美元。展示A最大税务上得到到的长期资本本收益 35%最高税额在长期期资本收益的的第一个5万万美元 25%差异 10%税金节约额从属属于替换税，也也许更有趣的的事实是对于于第一个5万万美元长期基基金收益*110% 50000美元如果纳税人的收收益仅仅遵守守替换税程序序，将会产生生

51、比正常预算算更高的税额额。这个事实实的证据是正正常税额比率率在替换税第第一个5万美美元长期收益益基金是255%上是累进进的。如果纳纳税人的净长长期资本增值值至少5万美美元,替代税税务程序产生生税额高于正正常的税务66,480美美元。展示B以25%为税率率的5万美元元收率长期资本本 125000美元使用Y计划1972税税率计划的550000美美元的应交税税额 60020美元运用替代方法增增加的税额 64480美元同时1969年年税收改革法法案改性的净净长期资本损损失(即多余的长长期过度短期期利益损失）利用普通收收入来抵消。基本上，如如果一个人有有一个当年净净资本损失，他他可能会减少少他的普通收收

52、入，但不超超过1,0000元。净短期资本本亏损用于抵抵销普通收入入一元对一元元的基础。然而，长期期净亏损19969年以后后产生的，减减少对两为一一的基础上普普通收入(即永远一美美元对普通收收入必须使用用美元的长期期损失2减少少）。应当指出出，在应用资资本损失来抵抵消普通收入入的短期损失失是首先应用用。此外，不使使用任何损失失减少普通收收入结转至要要么保留其作作为短期或长长期亏损的字字符今后几年年。谁拥有众多多的个人，应应分别计算股股票买卖他们们的股票转让让税(一般在经纪纪人的意见所所示）。这种税将将是一个分项项扣除，同时时增加对股票票转让所得款款项净额。由于税收已已从净之前扣扣除必须补充充回来

53、时，声声称作为一个个单独的扣除除税，否则将将被扣除两次次。在这种方式式下收益增加加，亏损减少少，在他的个个人取得正常常税率为转让让税全额扣除除。这种方法的的税款，节省省的是高得惊惊人。税收筹划要求，如如果纳税人的的仔细分析，投投资组合，以以确保取得最最大的好处是是使用时的资资本利得和损损失准备金。显然，纳税税人的资本资资产的出售时时间变得至关关重要。在效益一中的卖卖空与箱长这种先进的投资资者已经能够够利用卖空打打击的现成技技术来控制资资本利得税的的时机。虽然投资者者在短期出售售时，有固定定的整体经济济利益，应纳纳税收益没有有实现，直到到卖空平仓，也也就是说，证证券交付予买买方。此外，19967

54、年8月月之前对中做做空也被用来来规避洗售规规则。可这短暂的的销售技术进进一步扩展至至完全取消对对出售证券的的资本收益？下面是它如如何工作。史密斯先生拥有有100的XX公司是由他他的经纪人持持有的股份。九月一日，11973年，他他指示他的经经纪人出售这这是与史密斯斯先生的销售售收入在很短短的帐户，贷贷记点这些证证券“对中短短。”，同时仍仍然保持其在在X公司的好好仓股票。因此，不存存在尚未应税税事件。史密斯先生通通常会关闭了了在19744年1月短期期销售，有效效地推迟了资资本得到认可可73年至11974年。这是标准的的交易。然而，史密斯斯先生没有关关闭了在他的的一生真诚能能获得大量的的现金，而不不

55、会产生任何何即时交易税税的意图的结结果将如下：1在他的一生生。 由于出售没有结结束，因此没有资资本对1000的X公司出出售股份获得得认同。 2史密斯先生生的遗产。 对资本收益的不不承认的可能能性。该公司的XX 100股股的好仓举行行，计税依据据将采取阶梯梯式房地产税税值。如果这些证证券，然后用用来关闭了短短期销售，加加紧基础将这这种对卖空摘摘录转载来自自马拉加先生生的许可“反反对箱长短期期销售收益，”11969年美美国版权协会会会计师，减减少和避免所所得税大概等等于或大于原原来收到更大大的收益，因因此也没有资资本利得。虽然房地产产必须包括对对X公司的1100股股票票的价值，在在长期职位，在在总地产