税务规划(资料新-32张)课件

Tax Planning TAX PLANNINGTax planning in the tax practiceFundamental tenetsTax rate terminologyTax planning goalsAvoiding tax trapsTax motivated loans 2Tax Planning in the Tax Practice(1 of 2)Client goals must be broadly statedPractitioner can be more creativeHigh degree of control in open fact patterns 3Tax Planning in the Tax Practice(2 of 2)(2 of 2)Types of tax&wealth planning8Tax8Cash8Risk8Education8Retirement 8Investment8Estate 4Fundamental TenetsTaxes are an additional cost of doing business or accumulating wealthIncentives for tax planning8Fed.income tax not deductible7Full amount of tax saved increases after-tax income(tax savings not taxable)8Tax planning is deductible7ATC=BTC x(1-MTR)5Tax Rate TerminologyTax liabilities should meet revenue&nonrevenue objectives of the tax system.Tax Liability=Tax Base x Tax Rate 6Tax Base(1 of 2)Income tax8Based on ordinary taxable income less deductions for business&certain personal expenditures8Reflects capacity to support government finance 7Tax Base(2 of 2)Wealth taxes8Levies against net holdings of tangible(or intangible)assets that are controlled by a taxpayer at a given time8Also reflects capacity to support government finance 8Tax RatesTax rate structures8Proportional8Progressive8RegressiveTypes of tax rates8Marginal8Average 9Proportional Tax RateTax rate is constant for the entire tax base8e.g.,sales&property taxes 10Progressive Tax RateTax rate increases as tax base increasesAdditional income taxed at increasingly higher rates8e.g.,income,estate&gift taxes 11Regressive Tax RateTax rate decreases as tax base increasesAdditional income taxed at increasingly lower rates8Social security tax7Social security tax(0%over$80,400 in 2001).12Marginal Tax RateUsed in decision-making analysisNominal marginal tax rate8Tax rate on next dollar of income per the tax rate schedulesEffective marginal tax rate8Actual tax rate on next dollar of income after accounting for phase-out provisions&limitations 13Average Tax RateNominal average tax rate Tax liability _taxable incomeEffective average tax rate Tax liability _economic income 14Tax Planning GoalsFundamentals of tax planningAvoiding income recognitionPostponing income recognitionChanging tax jurisdictionsControlling classification of incomeSpreading income among related taxpayers 15Fundamentals of Tax PlanningPresent value considerations8Delay income recognition8Accelerate deductionsMarginal rate considerations8Shift income to low rate years8Shift deductions to high rate years 16Avoiding Income Recognition(1 of 2)Avoiding taxable transactions8Growing ones own food Using debt8Borrow against appreciated assets instead of selling them8Using debt to form a new corporation 17Avoiding Income Recognition(2 of 2)Using statutory exclusions8Municipal bond interest8Nontaxable fringe benefits instead of additional salary 18Postponing Income RecognitionDelaying a market transaction(income recognition)8Growth rather than yield investments8Mismatch current expenses with unrealized revenues8Using cost recovery 19Changing Tax JurisdictionsStructuring taxpayers and transactions to take advantage of:8Lack of a universal definition of the tax base8Differing tax rates&rate systems 20Controlling Classification of Income(1 of 2)Classifications8Ordinary income8Capital gains 8Portfolio(investment)income8Passive income8AMT income 21Controlling Classification of Income(2 of 2)Generating the right kind of income8passive income where passive losses existGenerating the right kind of deductions8AMT deductions where AMT income exists 22Spreading Income amongRelated TaxpayersShift income from high rate taxpayers to low rate taxpayers8Transfer income-producing assets to children not subject to the kiddie taxUse of controlled corporations8Fringe benefits&salary policies 23Avoiding Tax Traps(1 of 2)(1 of 2)Statutory tax traps84827Reallocate income artificially shifted among related taxpayers8Kiddie tax8Passive loss rules8AMT 24Avoiding Tax Traps(2 of 2)(2 of 2)Judicial tax traps8Business purpose7Transactions must have some purpose other than tax avoidance8Substance over form7Step-transaction doctrineSteps need a business purpose Separate steps by a reasonable time period 25Tax Motivated LoansLow-interest loans8Governed by 78728Gift loans 8Compensation-related loans8Corporation-shareholder loans8Exceptions to imputed-interest rulesHigh-interest loans 26Gift LoansBetween two individualsStep 18Interest income to lender8Interest expense to borrowerStep 28Gift made by lender8Gift received by borrower 27Compensation-Related LoansEmployer loans to employeesStep 18Interest income to lender8Interest expense to borrowerStep 28Compensation expense to lender8Compensation income to borrower 28Corporation-Shareholder LoansCorps loans to shareholdersStep 18Interest income to lender8Interest expense to borrowerStep 28Dividend paid by lender8Dividend income to borrower 29Exceptions to Imputed Interest Rules(1 of 2)Aggregate loans up to$10,0008No interest imputed unless7Gift loan proceeds used to purchase income-producing assets7Employer-employee loan has tax avoidance as principal purpose7Corporation-shareholder loan has tax avoidance as principal purpose 30Exceptions to Imputed Interest Rules(2 of 2)Aggregate loans up to$100,0008Loans between individuals7Interest imputed to the extent of the borrowers net investment income(NII)if borrowers NII exceeds$1,0007Impute all interest if tax avoidance is principal purpose 31High-Interest LoansShift income among family members(or other related parties)Any amount of interest is deductible if actually paidIRS may reclassify loan as gift unless there is a legally enforceable written agreement 32