Author: Cindy Yu, Managing Partner of CPG, CINDIE Professional Group

OBBBA One Big Beautiful Bill Act -Higher Income Bracket Impact

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

大而美法案 – 收入高一点的影响

by Cindy Yu, CPA/CFP, Partner of CINDIE & EliteCPA http://www.cindiecpa.com http://www.elitecpapc.com

The OBBBA aims to make several Tax Cuts and Jobs Act (TCJA) provisions permanent and introduces new deductions and adjusted thresholds, while also ending certain energy-related tax credits. For high-income earners, the focus remains on navigating complex deduction limitations and understanding bracket adjustments.

1. Income Inclusion:

  • Foreign Earned Income Exclusion: The maximum exclusion amount is adjusted annually for inflation. For 2025, it remains $126,500. This can be significant for clients with international income.
  • Net Investment Income Tax (NIIT): The 3.8% NIIT on investment income remains for individuals with Modified Adjusted Gross Income (MAGI) above $200,000 (Single) or $250,000 (Married Filing Jointly).

2. Deduction Changes (Increase, Decrease, or Demolish):

  • Standard Deduction: Permanently extended at higher levels from TCJA.
    • 2025 Standard Deduction Amounts:
      • Single/Married Filing Separately: $15,750 (up from $14,600 in 2024)
      • Married Filing Jointly/Qualifying Widow(er): $31,500 (up from $29,200 in 2024)
      • Head of Household: $23,625 (up from $21,900 in 2024)
    • Additional Standard Deduction (Seniors): A new extra deduction of $6,000 per senior (age 65+) is available from 2025-2028 ($12,000 for qualified couples), phasing out at $75K MAGI (single) and $150K (joint). This is in addition to the existing additional standard deduction for age/blindness ($2,000 for single/HOH, $1,600 for MFJ/MFS per qualifying individual in 2025).
  • State and Local Tax (SALT) Deduction Cap: Temporarily raised to $40,000 (from $10,000) for taxpayers earning under $500,000, through 2029. This provides increased deductibility for high earners in high-tax states, though the phase-out begins at $500,000 MAGI (single) and $600,000 (joint).
  • New Deductions (2025-2028):
    • Qualified Tip Income: Up to $25,000 deduction per filer, phasing out at $150K MAGI (single) and $300K (joint).
    • Overtime Pay: Capped at $12,500 (single) / $25,000 (joint), with the same phase-outs as tip income.
    • Auto Loan Interest: Up to $10,000 per year for interest on loans for U.S.-assembled vehicles taken after 2024, phasing out at $100K/$200K income.
    • Charitable Contributions (Non-Itemizers): A new above-the-line deduction of $150 (single) / $300 (married) for those not itemizing.
  • Qualified Business Income (QBI) Deduction (Section 199A): Permanently extended and expanded to 23% (from 20%) for pass-through business income. Rules limiting the deduction for high-income taxpayers have been eased.
  • Personal Exemptions: Permanently repealed (were scheduled to return in 2026).
  • Mortgage Interest Deduction: The limitation on mortgage interest indebtedness allowed for the deduction remains at $750,000 (permanently extended).

3. Lost Tax Credits and Additional Tax Credits:

  • Lost/Expiring Credits (Effective after December 31, 2025):
    • Residential Clean Energy Credit (e.g., solar panels, wind, geothermal, battery storage systems)
    • Energy-Efficient Home Improvement Credit
    • New Energy Efficient Home Credit
    • Investment Tax Credit for Solar & Wind
  • Child Tax Credit (CTC): Permanently extends the $2,000 per child credit amount. Also, provides a temporary $500 per child boost (max $2,500) from 2025-2028. The refundable amount (currently $1,700 per child) is permanently extended and adjusted for inflation. Phase-out remains at $200,000 (single) and $400,000 (married).
  • Earned Income Tax Credit (EITC): Income limits and maximum credit amounts are adjusted annually for inflation. While primarily benefiting lower and moderate-income taxpayers, some higher earners may still qualify for a partial credit depending on dependents and specific income levels.

4. Tax Rate Changes:

  • Permanent TCJA Brackets: The current federal income tax rates (10%, 12%, 22%, 24%, 32%, 35%, and 37%) are made permanent for 2025 and future years. This avoids the scheduled reversion to higher pre-TCJA rates.
  • Inflation Adjustment: Tax brackets are adjusted annually for inflation. The IRS will announce the exact 2026 inflation-adjusted income ranges later this year.
  • Alternative Minimum Tax (AMT): Higher AMT exemption amounts and thresholds are permanently extended, reducing the likelihood of high-income taxpayers being subject to AMT.

5. Example of Taxable Income of $300,000 (Married Filing Jointly – 2025):

  • Assumptions:
    • Married Filing Jointly
    • Taxable Income: $300,000
    • No unusual deductions or credits beyond standard calculation for illustration
    • No children
    • Under 65 and not blind
    • No new specific deductions (tip, overtime, auto loan) to simplify
  • 2025 Marginal Tax Brackets (Married Filing Jointly):
    • 10%: $0 to $23,850
    • 12%: $23,851 to $96,950
    • 22%: $96,951 to $206,700
    • 24%: $206,701 to $340,100
  • Tax Calculation for $300,000 Taxable Income (MFJ):
    • 10% Bracket: $23,850 * 0.10 = $2,385.00
    • 12% Bracket: ($96,950 – $23,850) * 0.12 = $73,100 * 0.12 = $8,772.00
    • 22% Bracket: ($206,700 – $96,950) * 0.22 = $109,750 * 0.22 = $24,145.00
    • 24% Bracket: ($300,000 – $206,700) * 0.24 = $93,300 * 0.24 = $22,392.00
    • Effective Tax Rate: ($57,694.00 / $300,000) * 100% = 19.23%

Disclaimer: This is a simplified summary. Individual tax situations vary greatly. Clients should consult with their tax professional for personalized advice based on their specific financial circumstances. Tax laws are subject to change.

新法案引入了新的扣除额和调整后的门槛，同时终止了某些能源相关的税收抵免。对于高收入者，重点仍然是了解复杂的扣除额限制和税级调整。

  1. 收入：
  • 海外收入免税额：最高免税额每年根据通货膨胀率进行调整。2025 年，最高免税额仍为 126,500 美元。这对于拥有国际收入的客户来说意义重大。
  • 净投资所得税 (NIIT)：对于调整后总收入 (MAGI) 超过 200,000 美元（单身）或 250,000 美元（已婚联合申报）的个人，投资收入仍需缴纳 3.8% 的 NIIT。
  1. 扣除额变化（增加、减少或取消）：

标准扣除额：从 TCJA 开始，永久延长至更高水平。

2025 年标准扣除额：

  • 单身/已婚分开申报：15,750 美元（2024 年为 14,600 美元）
  • 已婚联合申报/符合条件的丧偶者：31,500 美元（2024 年为 29,200 美元）
  • 户主：23,625 美元（2024 年为 21,900 美元）
  • 额外标准扣除额（老年人）：2025 年至 2028 年期间，每位老年人（65 岁以上）可享受 6,000 美元的额外扣除额（符合条件的夫妇为 12,000 美元），单身 MAGI 达到 7.5 万美元，联合申报 MAGI 达到 15 万美元时，将逐步取消。这是对现有年龄/失明额外标准扣除额的补充（2025年，每位符合条件的个人，单身/HOH 为 2,000 美元，MFJ/MFS 为 1,600 美元）。
  • 州和地方税 (SALT) 扣除上限：对于收入低于 500,000 美元的纳税人，暂时提高至 40,000 美元（从 10,000 美元起），直至 2029 年。这为高税州的高收入者提供了更高的扣除额，但从 500,000 美元的 MAGI（单身）和 600,000 美元的 MAGI（夫妻双方）开始逐步取消。

新的扣除额（2025-2028）：

  • 合格小费收入：每位申报人最高可扣除 25,000 美元，从 150,000 美元的 MAGI（单身）和 300,000 美元的 MAGI（夫妻双方）开始逐步取消。
  • 加班费：最高抵扣额为 12,500 美元（单身）/ 25,000 美元（夫妻双方），与小费收入相同，逐步取消。
  • 汽车贷款利息：2024 年后购买美国组装汽车的贷款利息，每年最高抵扣额为 10,000 美元，收入达到 10 万/20 万美元时逐步取消。
  • 慈善捐款（非逐项申报者）：新增一项高于标准的抵扣额，对于未逐项申报者，单身人士可抵扣 150 美元，已婚人士可抵扣 300 美元。
  • 合格商业收入 (QBI) 抵扣（第 199A 条）：永久延长，并将直通商业收入的抵扣率从 20% 提高至 23%。限制高收入纳税人抵扣的规定已放宽。
  • 个人免税额：永久废除（原定于 2026 年恢复）。
  • 抵押贷款利息抵免：允许抵免的抵押贷款利息债务限额仍为 75 万美元（永久延长）。
  1. 已失效的税收抵免和额外税收抵免：

已失效/到期的抵免（2025 年 12 月 31 日后生效）：

  • 住宅清洁能源抵免（例如，太阳能电池板、风能、地热能、电池储能系统）
  • 节能家居改造抵免
  • 新型节能住宅抵免
  • 太阳能和风能投资税收抵免
  • 儿童税收抵免 (CTC)：永久延长每名儿童 2,000 美元的抵免额度。此外，在 2025 年至 2028 年期间，每名儿童提供 500 美元的临时补助（最高 2,500 美元）。可退还的金额（目前为每名儿童 1,700 美元）将永久延长，并根据通货膨胀进行调整。逐步取消的门槛仍为 20 万美元（单身）和 40 万美元（已婚）。
  • 劳动所得税抵免 (EITC)：收入限额和最高抵免额每年根据通货膨胀进行调整。虽然主要惠及低收入和中等收入纳税人，但部分高收入者仍可能有资格获得部分抵免，具体取决于受抚养人的情况和具体收入水平。
  1. 税率变化：
  • 永久性 TCJA 税级：现行联邦所得税税率（10%、12%、22%、24%、32%、35% 和 37%）将在 2025 年及以后永久生效。这避免了按计划恢复到 TCJA 生效前的较高税率。
  • 通货膨胀调整：税级每年根据通货膨胀进行调整。美国国税局 (IRS) 将于今年晚些时候公布 2026 年经通货膨胀调整后的具体收入范围。
  • 替代性最低税 (AMT)：更高的 AMT 免税额和起征点将永久延长，从而降低高收入纳税人缴纳 AMT 的可能性。
  1. 30万美元应税收入示例（夫妻联合申报 – 2025年）：

假设：

  • 夫妻联合申报
  • 应税收入：30万美元
  • 除标准计算外，无特殊扣除或抵免
  • 无子女
  • 未满65岁且非盲人
  • 无新的特定扣除项目（例如小费、加班费、汽车贷款）以简化计算

2025年边际税率（夫妻联合申报）：

  • 10%：0美元至23,850美元
  • 12%：23,851美元至96,950美元
  • 22%：96,951美元至206,700美元
  • 24%：206,701美元至340,100美元

30万美元应税收入（MFJ）的税务计算：

  • 10%税率： $23,850 * 0.10 = $2,385.00
  • 12% 税率：$96,950 – $23,850) * 0.12 = $73,100 * 0.12 = $8,772.00
  • 22% 税率：$206,700 – $96,950) * 0.22 = $109,750 * 0.22 = $24,145.00
  • 24% 税率：$300,000 – $206,700) * 0.24 = $93,300 * 0.24 = $22,392.00
  • 有效税率：（$57,694.00 / $300,000）* 100% = 19.23%

How to Obtain the Transfer Certificate

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

美国居民死者遗产的转移证书

by CINDIE, cpa@cindyxyu, 732-896-0272

200 Centennial Ave, Suite 106, Piscataway NJ 08854

信谛註册会计师事务所

To obtain a Transfer Certificate from the IRS for a nonresident decedent’s estate, which is often required to release U.S. assets (like bank or brokerage accounts) after death, follow these key steps:

🧾 STEP-BY-STEP: How to Obtain a Transfer Certificate (IRS)

✅ 1. Determine If a Transfer Certificate Is Required

  • A Transfer Certificate (IRS Form 5173) is generally required if the decedent was not a U.S. citizen or resident at time of death, and owned U.S. assets (e.g., U.S. stocks, real estate, bank accounts).
  • U.S. financial institutions may not release assets until this certificate is received.

✅ 2. Prepare and File IRS Form 706-NA

  • File Form 706-NA (United States Estate Tax Return for Nonresident Not a Citizen).
  • Include:
    • All required schedules (especially Schedule A for U.S. situs assets)
    • Death certificate (translated if not in English)
    • Will or Letters Testamentary (if available)
    • Power of Attorney (Form 2848) if you’re representing the estate

📌 Note: If the gross U.S. situs assets exceed $60,000, filing Form 706-NA is required. Even if under the threshold, the IRS may still require 706-NA to process the transfer certificate.

✅ 3. Include a Written Request for Transfer Certificate

  • There is no separate IRS form to request the certificate — you must include a written request in the cover letter with Form 706-NA.
  • The cover letter should:
    • Request issuance of a Transfer Certificate (IRS Form 5173)
    • Identify the decedent (full name, date of death)
    • Provide the TIN (if issued) or write “NRA”
    • List all U.S. assets held at death (attach a brokerage or bank letter showing date-of-death values)
    • State who is making the request (executor, attorney, CPA)

✅ 4. Mail the Return and Request to the IRS

Mail the Form 706-NA and attachments to:

Department of the Treasury
Internal Revenue Service Center
Cincinnati, OH 45999
USA

✅ 5. Respond to IRS Inquiries

  • The IRS may send a Letter 6272 or 6273 requesting more information or documentation.
  • Respond promptly and include:
    • Additional asset valuation support
    • Foreign estate tax filings (if any)
    • Ownership documentation

✅ 6. Wait for IRS Processing (Takes ~6–12 Months)

  • After processing the estate tax return and confirming no further U.S. tax is due (or that tax has been paid), the IRS will issue Form 5173: Transfer Certificate.

✅ 7. Provide the Certificate to U.S. Financial Institutions

  • Once received, send copies of the Transfer Certificate to the financial institutions holding U.S. assets. This will allow them to release the assets.

📎 Optional: If Under $60,000 Threshold (No Tax Owed)

You can still request a Transfer Certificate by submitting:

  • A letter requesting the certificate
  • A statement of assets and liabilities
  • A death certificate
  • Documentation of asset ownership and valuation
  • Proof the decedent was not a U.S. citizen/resident

Even without filing Form 706-NA, the IRS may still require additional documentation before issuing the certificate.

要从美国国税局 (IRS) 获取非美国居民死者遗产的转移证书（这通常是在死者去世后释放美国资产（例如银行或经纪账户）所必需的），请遵循以下关键步骤：

🧾 分步指南：如何获取转移证书（IRS）
✅ 1. 确定是否需要转移证书
如果死者在去世时不是美国公民或居民，但拥有美国资产（例如美国股票、房地产、银行账户），则通常需要转移证书（IRS 表格 5173）。

美国金融机构在收到此证书之前可能不会释放资产。

✅ 2. 准备并提交 IRS 表格 706-NA
提交 706-NA 表格（非美国居民的美国遗产税申报表）。

包括：

所有必需的附表（尤其是美国境内资产的附表A）

死亡证明（如果不是英文的，请提供翻译件）

遗嘱或遗嘱认证书（如有）

如果您代表遗产，请提供授权委托书（表格2848）

📌 注意：如果您在美国境内资产总额超过6万美元，则需要提交706-NA表格。即使低于门槛，美国国税局仍可能要求提交706-NA表格来处理转移证明。

✅ 3. 提交转移证明的书面申请
美国国税局没有单独的表格来申请转移证明——您必须在706-NA表格的附函中提交书面申请。

附函内容应：

申请签发财产转移证明（IRS 5173 表格）

确认死者身份（全名、死亡日期）

提供纳税人识别号 (TIN)（如有）或填写“NRA”（非居民居民身份证）

列出死者去世时持有的所有美国资产（附上经纪公司或银行的信函，注明死亡日期的价值）

说明提出申请的人（遗嘱执行人、律师、注册会计师）

✅ 4. 将申报表和申请表邮寄至 IRS
将 706-NA 表格及其附件邮寄至：


✅ 5. 回复 IRS 查询
IRS 可能会发送 6272 或 6273 号信函，要求提供更多信息或文件。

请及时回复，并附上以下材料：

其他资产估值支持

海外遗产税申报表（如有）

所有权文件

✅ 6. 等待美国国税局 (IRS) 处理（约需 6-12 个月）
处理完遗产税申报表并确认无需缴纳其他美国税款（或已缴纳税款）后，IRS 将签发 5173 表格：资产转移证明。

✅ 7. 将资产转移证明提交给美国金融机构
收到转移证明后，请将副本发送给持有美国资产的金融机构。这将使他们能够释放资产。

📎 可选：如果低于 60,000 美元门槛（无欠税）
您仍然可以通过提交以下材料申请转移证书：

申请证书的信函

资产负债表

死亡证明

资产所有权及估值证明

死者非美国公民/居民证明

即使未提交 706-NA 表格，美国国税局在签发证书前仍可能要求您提供其他文件。

Q3 Estimated Tax Payment Amount

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

And Year-round tax planning tips for taxpayers from IRS

by CINDIE http://www.cindiellc.com

Please review your YTD income in addition to your W2 income. Please consider 1) how much tax was paid in last year 2) how much tax you might owe on the additional income. A 20% on additional income for federal and 8% for state might be a safe net for potential estimated tax penalty and interests.

Here are some simple things taxpayers can do throughout the year to make next filing season less stressful.

Organize tax records. Create a system that keeps all important information together. Taxpayers can use a software program for electronic recordkeeping or store paper documents in clearly labeled folders. They should add tax records to their files as they receive them. Organized records will make tax return preparation easier and may help taxpayers discover overlooked deductions or credits.

Check withholding. Since federal taxes operate on a pay-as-you-go basis, taxpayers need to pay most of their tax as they earn income. Taxpayers should check that they’re withholding enough from their pay to cover their taxes owed, especially if their personal or financial situations change during the year. To check withholding, taxpayers can use the IRS Tax Withholding Estimator. If they want to change their tax withholding, taxpayers should provide their employer with an updated Form W-4.

Save for retirement. Saving for retirement can also lower a taxpayer’s AGI. Certain contributions to a retirement plan at work and to a traditional IRA may also reduce taxable income.

Source: IRS Issue Number:  Tax Tip 2025-38

第三季度预计纳税额 以及美国国税局为纳税人提供的全年税务规划建议

除了 W2 收入外，请检查您的 YTD 收入。请考虑 1) 去年缴纳了多少税款 2) 您可能欠这笔额外收入多少税款。联邦额外收入 20% 的税率和州额外收入 8% 的税率，或许可以有效规避潜在的预估税罚款和利息。

以下是纳税人全年可以做的一些简单的事情，以减轻下一个报税季的压力。

整理税务记录。创建一个将所有重要信息汇总在一起的系统。纳税人可以使用软件程序进行电子记录保存，或将纸质文件存放在标签清晰的文件夹中。他们应该在收到税务记录后立即将其添加到文件中。整理好的记录将使纳税申报表的准备工作更加轻松，并可能帮助纳税人发现被忽视的扣除额或抵免额。

检查预扣税。由于联邦税采用现收现付制，纳税人需要在赚取收入时缴纳大部分税款。纳税人应检查自己是否从工资中预扣了足够的税款来支付所欠税款，尤其是在个人或财务状况在一年中发生变化的情况下。要检查预扣税，纳税人可以使用美国国税局预扣税估算器。如果纳税人想要更改预扣税，应向雇主提供更新后的 W-4 表格。

为退休储蓄。为退休储蓄还可以降低纳税人的调整总收入 (AGI)。对工作退休计划和传统 IRA 的某些贡献也可能减少应税收入。

IRS: Myth-busting federal tax refunds

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group

According to IRS Issue Number: Tax Tip 2025-18:

Many taxpayers file their federal tax returns and then eagerly anticipate details about their refund.

The best way to check the status of a refund is through the Where’s My Refund? tool, the IRS2Go app, or by signing in to the taxpayer’s IRS Online Account.­ But many people mistakenly think there are better ways to get their refund status. Here are some of the myths about tax refunds.

Myth: Calling the IRS, a tax software provider or a tax professional will provide a more accurate refund date.

Many people think talking to the IRS, tax software provider or their tax professional is the best way to find out when they will get their refund. There is no need to call the IRS unless Where’s My Refund? says to do so.

Taxpayers that do want refund info by phone can call the automated refund hotline at 800-829-1954. This hotline has the same information as the Where’s My Refund? tool.

Myth: Ordering a tax transcript is a secret way to get a refund date

A tax transcript will not help taxpayers find out when they will get their refund. IRS tools like Where’s My Refund? will tell taxpayers if their refund is approved and sent.

Myth: Where’s My Refund? must be wrong because there’s no deposit date yet

Where’s My Refund? ‎on both IRS.gov and the IRS2Go mobile app are updated once a day, usually at night. Even though the IRS issues most refunds within 21 days, it’s possible a refund may take longer. Taxpayers should also consider the time it takes for the banks to post the refund to their account. People waiting for a refund in the mail should plan for the time it takes a check to arrive. If the IRS needs more information to process a tax return, the agency will contact the taxpayer by mail.

Myth: Where’s My Refund? must be wrong because the refund amount is less than expected

There are several factors that could cause a tax refund to be less than expected. The IRS will mail the taxpayer a letter of explanation if any adjustments are made. Some taxpayers may also receive a letter from the Department of Treasury’s Bureau of the Fiscal Service if their refund was reduced to offset certain financial obligations. Before calling, check Where’s My Refund or wait for the letter to understand why the change was made. The letter will also tell the taxpayers know how to respond, if they need to.

Myth: Getting a refund this year means there’s no need to adjust withholding for 2025

To help avoid a surprise next year, taxpayers should make changes now to prepare for next year. One way to do this is to adjust their tax withholding with their employer. The IRS Tax Withholding Estimator tool can help taxpayers determine if their employer is withholding the right amount.

Taxpayers who experience a life event like marriage, divorce, the birth or adoption of a child or no longer being able to claim a person as a dependent are encouraged to check their withholding. Taxpayers can use the results from the Tax Withholding Estimator to complete and submit a new Form W-4, Employee’s Withholding Certificate, to their employer as soon as possible. Withholding takes place throughout the year, so it’s better to take this step now.

NY/NYC PTE Election, Benefits and Timing

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

New York State (NYS) and New York City (NYC) have implemented optional Pass-Through Entity Taxes (PTET) to help S corporations and other pass-through entities mitigate the federal $10,000 cap on state and local tax (SALT) deductions. By electing to pay taxes at the entity level, these businesses can provide their owners with a federal deduction for state and local taxes that would otherwise be limited.

New York State PTET:

  • Eligibility: Available to partnerships and New York S corporations for tax years beginning on or after January 1, 2021.
  • Benefits: Electing entities pay income tax at the entity level, allowing individual partners or shareholders to claim a PTET credit on their NYS personal income tax returns. This structure effectively bypasses the federal SALT deduction cap, enabling full deduction of state taxes at the federal level.

New York City PTET:

  • Eligibility: Available to city partnerships and city resident New York S corporations for tax years beginning on or after January 1, 2022.
  • Benefits: Similar to the state-level PTET, the NYC PTET allows electing entities to pay city taxes at the entity level. Shareholders who are NYC residents can then claim a credit against their NYC personal income tax liability, reducing their taxable income federally and circumventing the SALT deduction cap.

Considerations:

  • Election Process: The PTET election must be made annually and is irrevocable for that tax year once made. tax.ny.gov
  • Nonresident Implications: Nonresident partners or shareholders do not benefit from the NYC PTET, as the credit applies only to NYC residents.
  • Federal Deduction: By paying taxes at the entity level, the business can deduct these taxes federally, effectively working around the $10,000 SALT cap imposed on individual taxpayers. nysscpa.org

Electing into the NYS and NYC PTET can provide significant tax benefits by allowing S corporations to fully deduct state and local taxes at the federal level, thereby reducing overall tax liability.

Election Timing Requirements:

As of February 2025, the deadline for electing into the New York State (NYS) Pass-Through Entity Tax (PTET) for the 2025 tax year is March 15, 2025. This election must be made annually through the entity’s Business Online Services account. tax.ny.gov

However, there is proposed legislation under consideration that aims to extend the PTET election deadline to September 15 of the tax year. If enacted, this change would provide entities with additional time to assess their financial positions before making the election. taxnews.ey.com

It’s important to note that, as of now, this extension has not been finalized. Therefore, entities should plan to make their PTET election by the current deadline of March 15, 2025.

For the New York City (NYC) PTET, the election process and deadlines align with those of the NYS PTET. Eligible entities must opt in by March 15, 2025, through their Business Online Services account. tax.ny.gov

Given the potential for legislative changes, it’s advisable to consult with a tax professional or regularly check the New York State Department of Taxation and Finance website for the most current information regarding PTET election deadlines.

IRS Audit Triggers IRS 审计

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

You may contact Us if you receive an IRS audit letter:
Main Address: 200 Centennial Avenue, Suite 106, Piscataway, NJ 08854
Florida office: 14767 Lattice Ct, Jacksonville FL3226
Phone: (732) 896-0272 Email: cpa@cindiellc.com

What Triggers an IRS Audit? The IRS uses sophisticated computer algorithms to decide on which returns to audit. If your return looks strange, your chances of being audited go way up. Here are some reasons the IRS might audit you:

  1. Taking Large Deductions – Returns with extremely large deductions in relation to income are more likely to be audited. For example, if your tax return shows that you earn $25,000, you are more likely to be audited if you claim $20,000 in deductions than if you claim $2,000.
  2. Claiming Certain Kinds of Deductions – Certain types of deductions have long been thought to be hot buttons for the IRS, especially auto, travel, and meal expenses. Casualty losses and bad debt deductions might also increase your audit chances.
  3. Claiming a Business Loss – Businesses that show losses are more likely to be audited, especially if the losses are recurring. The IRS might suspect that you must be making more money than you’re reporting—otherwise, why would you stay in business? Most likely to be audited are taxpayers reporting small business losses.
  4. Claiming Deductions That Don’t Make Sense – Deductions that seem odd or out of character could increase your audit chances, like a plumber who deducts the cost of foreign travel might raise a few eyebrows at the IRS.
  5. Not Reporting All of Your Income – The IRS also goes to great lengths to ensure you report all of your income. Its computers match the information on W-2s and 1099-NEC forms with the income amount reported on tax returns using Social Security and other identifying numbers. If the IRS finds discrepancies, it will probably start asking questions.
  6. Having Evidence of Intent to Mislead or Being Sloppy With Your Return
    Filing a tax return with missing schedules or not providing all the information asked for on the forms can increase your chances of being audited. Similarly, a sloppy return, especially with math mistakes, increases your chances of an audit. Also, using round numbers—for example, $6,000 for business advertising costs or $4,000 for transportation expenses—indicates that you’re estimating, not using records to report amounts.
  7. Being a Higher Earner – If you make over $500,000 per year, your audit likelihood is greater than the likelihood for the general population. As shown in the chart above, 0.7% of filers who earned between $500,000 and $1,000,000 were audited. So, Can I Get Away With Cheating on My Taxes? Even if you earn far less than $500,000, don’t think that you can easily get away with cheating on your taxes. (See “Are Increased IRS Audits Coming?” below.)
  8. Having Self-Employment Income – The IRS tends to be suspicious of people in business for themselves. Depending on their income, sole proprietors are up to five times more likely to be audited than wage earners.
  9. Having Foreign Accounts – Keeping money or other assets in foreign banks or other financial accounts increases audit chances.
  10. Owning Digital Assets – Having digital assets, including cryptocurrency, such as Bitcoin, might increase your chances of an audit. IRS Form 1040 asks whether you received, sold, exchanged, or otherwise disposed of a digital asset during the year. If you say “yes,” your answer increases your audit chances.
  11. Claiming Too Many Charitable Deductions – Claiming $20,000 in charitable deductions on your $50,000 salary will probably make the IRS suspicious. And if you don’t have documentation to back up your charitable deductions, don’t deduct them.

什么会触发 IRS 审计？
IRS 使用复杂的计算机算法来决定审计哪些申报表。如果您的申报表看起来很奇怪，您被审计的可能性就会大大增加。以下是 IRS 可能对您进行审计的 11 个原因。

  • 扣除大额 – 扣除额与收入相关的金额非常大的纳税申报表更有可能被审计。例如，如果您的纳税申报表显示您的收入为 25,000 美元，那么如果您申报扣除额为 20,000 美元，那么您被审计的可能性要高于申报扣除额为 2,000 美元的情况。
  • 申报某些类型的扣除额 – 长期以来，某些类型的扣除额一直被认为是 IRS 的热门话题，尤其是汽车、旅行和餐费。意外损失和坏账扣除额也可能增加您的审计机会。
  • 申报企业亏损 – 显示亏损的企业更有可能被审计，尤其是如果亏损是经常性的。IRS 可能会怀疑您赚的钱一定比您申报的要多——否则，您为什么要继续经营下去？最有可能被审计的是申报小企业亏损的纳税人。
  • 申报不合理的扣除额 – 看起来奇怪或不合常理的扣除额可能会增加您被审计的机会，例如，扣除国外旅行费用的水管工可能会引起国税局的怀疑。
  • 不报告您的全部收入 – 国税局也会不遗余力地确保您报告所有收入。其计算机会将 W-2 和 1099-NEC 表格上的信息与使用社会保障和其他识别号码的纳税申报单上报告的收入金额进行匹配。如果国税局发现差异，它可能会开始提出质疑。
  • 有证据表明有意误导或申报表草率
    提交缺少时间表的纳税申报表或未提供表格上要求的所有信息可能会增加您被审计的机会。同样，草率的申报表（尤其是有数学错误）会增加您被审计的机会。此外，使用整数（例如，商业广告费用为 6,000 美元或交通费用为 4,000 美元）表明您正在估算，而不是使用记录来报告金额。
  • 收入较高 – 如果您每年的收入超过 500,000 美元，那么您被审计的可能性就大于一般人群。如上图所示，收入在 500,000 美元至 1,000,000 美元之间的纳税人中有 0.7% 被审计过。那么，我能逃税吗？即使您的收入远低于 500,000 美元，也不要认为您可以轻易逃税。（请参阅下面的“国税局审计是否会增加？”。）
  • 拥有自营职业收入 – 国税局倾向于怀疑为自己做生意的人。根据他们的收入，独资经营者被审计的可能性比工薪阶层高出五倍。
  • 拥有外国账户 – 在外国银行或其他金融账户中存钱或其他资产会增加被审计的机会。
  • 拥有数字资产 – 拥有数字资产（包括比特币等加密货币）可能会增加被审计的机会。IRS 表格 1040 会询问您是否在一年内收到、出售、交换或以其他方式处置了数字资产。如果您回答“是”，您的答案会增加被审计的机会。
  • 申报过多慈善扣除 – 在您的 50,000 美元薪水中申报 20,000 美元的慈善扣除可能会引起 IRS 的怀疑。如果您没有文件支持您的慈善扣除，请不要扣除。

Credit to source: https://www.nolo.com/legal-encyclopedia/irs-tax-audits-

BOI Reporting 23 Exemptions

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group

受益所有权信息合规报告-豁免23种公司形式

For any questions, please contact: cpa@cindiellc.com 732-896-0272 https://cindiellc.com/form/

1. Securities reporting issuer： that is: (A) an issuer of a class of securities registered under Sec. 12 of the Securities Exchange Act of 1934, or (B) required to file supplementary and periodic information under Sec. 15(d) of the Securities Exchange Act of 1934.

2. Governmental authority：that: (A) is established under the laws of the United States, an Indian tribe, a State, or a political subdivision of a State, or under an interstate compact between two or more States, and (B) exercises governmental authority on behalf of the United States or any such Indian tribe, State, or political subdivision.

3. Bank：as defined in: (A) Sec. 3 of the Federal Deposit Insurance Act, (B) Sec. 2(a) of the Investment Company Act of 1940, or (C) Sec. 202(a) of the Investment Advisers Act of 1940.

4. Credit union：Federal credit union or State credit union, as those terms are defined in Sec. 101 of the Federal Credit Union Act.

5. Depository institution holding company： bank holding company as defined in Sec. 2 of the Bank Holding Company Act of 1956, or any savings and loan holding company as defined in Sec. 10(a) of the Home Owners’ Loan Act.

6. Money services business：money transmitting business registered with FinCEN under 31 U.S.C. 5330, and any money services business registered with FinCEN under 31 CFR 1022.380.

7. Broker or dealer in securities：broker or dealer, as those terms are defined in Sec. 3 of the Securities Exchange Act of 1934, that is registered under Sec. 15 of that Act.

8. Securities exchange or clearing agency：exchange or clearing agency, as those terms are defined in Sec. 3 of the Securities Exchange Act of 1934, that is registered under Secs. 6 or 17A of that Act.

9. Other Exchange Act registered entity：Any entity other than that described in exemption 1 (Securities reporting issuer), exemption 7 (Broker or dealer in securities), or exemption 8 (Securities exchange or clearing agency) that is registered with the SEC under the Securities Exchange Act of 1934.

10. Investment company or investment adviser：Any entity that is: (A) an investment company as defined in Sec. 3 of the Investment Company Act of 1940, or is an investment adviser as defined in Sec. 202 of the Investment Advisers Act of 1940, and (B) registered with the SEC under the Investment Company Act of 1940 or the Investment Advisers Act of 1940.

11. Venture capital fund adviser：Any investment adviser that: (A) is described in section 203(l) of the Investment Advisers Act of 1940, and (B) has filed Item 10, Schedule A, and Schedule B of Part 1A of Form ADV, or any successor thereto, with the SEC.

12. Insurance company：Any insurance company as defined in Sec. 2 of the Investment Company Act of 1940.

13. State-licensed insurance producer：Any entity that: (A) is an insurance producer that is authorized by a State and subject to supervision by the insurance commissioner or a similar official or agency of a State, and (B) has an operating presence at a physical office within the United States.

14. Commodity Exchange Act registered entity：Any entity that: (A) is a registered entity as defined in Sec. 1a of the Commodity Exchange Act, or (B) is: (1) a futures commission merchant, introducing broker, swap dealer, major swap participant, commodity pool operator, or commodity trading advisor, each as defined in Sec. 1a of the Commodity Exchange Act, or a retail foreign exchange dealer as described in Sec. 2(c)(2)(B) of the Commodity Exchange Act and (2) registered with the Commodity Futures Trading Commission under the Commodity Exchange Act.

15. Accounting firm：Any public accounting firm registered in accordance with Sec. 102 of the Sarbanes-Oxley Act of 2002.

16. Public utility：Any entity that is a regulated public utility as defined in 26 USC 7701(a)(33)(A) that provides telecommunications services, electrical power, natural gas, or water and sewer services within the United States.

17. Financial market utility：Any financial market utility designated by the Financial Stability Oversight Council under Sec. 804 of the Payment, Clearing, and Settlement Supervision Act of 2010.

18. Pooled investment vehicle：Any pooled investment vehicle that is operated or advised by a person described in exemptions 3 (bank), 4 (credit union), 7 (broker or dealer in securities), 10 (investment company or investment adviser), or 11 (venture capital fund adviser).

19. Tax-exempt entity：Any entity that is: (A) an organization that is described in Sec. 501(c) of the Internal Revenue Code of 1986 (determined without regard to Sec. 508(a) of the Code) and exempt from tax under Sec. 501(a) of the Code, except that in the case of any such organization that ceases to be described in Sec. 501(c) and exempt from tax under Sec. 501(a), such organization shall be considered to continue to be described as a tax-exempt entity for the 180-day period beginning on the date of the loss of such tax-exempt status, (B) a political organization, as defined in Sec. 527(e)(1) of the Code, that is exempt from tax under Sec. 527(a) of the Code, or (C) a trust described in paragraph (1) or (2) of Sec. 4947(a) of the Code.

20. Entity assisting a tax-exempt entity：Any entity that: (A) operates exclusively to provide financial assistance to, or hold governance rights over, any entity described in exemption 19 above (tax-exempt entity), (B) is a United States person, (C) is beneficially owned or controlled exclusively by one or more United States persons that are United States citizens or lawfully admitted for permanent residence, and (D) derives at least a majority of its funding or revenue from one or more United States persons that are United States citizens or lawfully admitted for permanent residence.

21. Large operating company：Any entity that: (A) employs more than 20 full time employees in the United States, with “full time employee in the United States” having the meaning provided in 26 CFR 54.4980H-1(a) and 54.4980H-3, except that the term “United States” as used in those sections of the CFR have the meaning provided in 31 CFR 1010.100(hhh), (B) has an operating presence at a physical office within the United States, and (C) filed a Federal income tax or information return in the United States for the previous year demonstrating more than $5,000,000 in gross receipts or sales, as reported as gross receipts or sales (net of returns and allowances) on the entity’s IRS Form 1120, consolidated IRS Form 1120, IRS Form 1120-S, IRS Form 1065, or other applicable IRS form, excluding gross receipts or sales from sources outside the United States, as determined under Federal income tax principles. For an entity that is part of an affiliated group of corporations within the meaning of 26 USC 1504 that filed a consolidated return, the applicable amount shall be the amount reported on the consolidated return for such group.

22. Subsidiary of certain exempt entities：Any entity whose ownership interests are controlled or wholly owned, directly or indirectly, by one or more entities described in exemptions 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19, or 21 set forth above.

23. Inactive entity：Any entity that: (A) was in existence on or before January 1, 2020, (B) is not engaged in active business, (C) is not owned by a foreign person, whether directly or indirectly, wholly or partially, (D) has not experienced any change in ownership in the preceding twelve-month period, (E) has not sent or received any funds in an amount greater than $1,000, either directly or through any financial account in which the entity or any affiliate of the entity had an interest, in the preceding 12 month period, and (F) does not otherwise hold any kind or type of assets, whether in the United States or abroad, including any ownership interest in any corporation, limited liability company, or other similar entity.

  1. 证券报告发行人：任何证券发行人，即：(A) 根据 1934 年证券交易法第 12 条注册的一类证券的发行人，或 (B) 根据 1934 年证券交易法第 15(d) 条需要提交补充和定期信息的人。
  2. 政府机构：任何实体，即：(A) 根据美国法律、印第安部落、州或州的政治分支机构的法律或根据两个或多个州之间的州际协议成立，并且 (B) 代表美国或任何此类印第安部落、州或政治分支机构行使政府权力。
  3. 银行：任何银行，定义见：(A) 联邦存款保险法第 3 条，(B) 1940 年投资公司法第 2(a) 条，或 (C) 第 4 条。 1940 年《投资顾问法》第 202(a) 条。
  4. 信用合作社：任何联邦信用合作社或州信用合作社，这些术语的定义见《联邦信用合作社法》第 101 条。
  5. 存款机构控股公司：任何银行控股公司，定义见 1956 年《银行控股公司法》第 2 条，或任何储蓄和贷款控股公司，定义见《房主贷款法》第 10(a) 条。
  6. 货币服务业务：任何根据美国法典第 31 章第 5330 条在 FinCEN 注册的货币转账业务，以及任何根据联邦法典第 31 章第 1022.380 条在 FinCEN 注册的货币服务业务。
  7. 证券经纪人或交易商：任何根据 1934 年《证券交易法》第 3 条定义，并根据该法第 15 条注册的经纪人或交易商。
  8. 证券交易所或清算机构：根据《1934 年证券交易法》第 3 节定义并根据该法第 6 节或第 17A 节注册的任何证券交易所或清算机构。
  9. 其他证券交易法注册实体：除豁免 1（证券报告发行人）、豁免 7（证券经纪人或交易商）或豁免 8（证券交易所或清算机构）中所述实体之外，根据《1934 年证券交易法》在证券交易委员会注册的任何实体。
  10. 投资公司或投资顾问：以下任何实体：(A) 1940 年投资公司法第 3 节定义的投资公司，或第 3 节定义的投资顾问。 1940 年《投资顾问法》第 202 条，并且 (B) 根据 1940 年《投资公司法》或 1940 年《投资顾问法》在 SEC 注册。
  11. 风险投资基金顾问：任何符合以下条件的投资顾问：(A) 符合 1940 年《投资顾问法》第 203(l) 条的规定，并且 (B) 已向 SEC 提交 ADV 表格第 1A 部分第 10 项、附表 A 和附表 B 或其后续文件。
  12. 保险公司：任何符合 1940 年《投资公司法》第 2 条规定的保险公司。
  13. 州许可的保险生产商：任何符合以下条件的实体：(A) 是经州授权并受州保险专员或类似官员或机构监管的保险生产商，并且 (B) 在美国境内设有实体办事处。
  14. 商品交易法注册实体：任何符合以下条件的实体：(A) 是《商品交易法》第 1a 条定义的注册实体，或 (B) 是：(1) 期货佣金商、介绍经纪人、掉期交易商、主要掉期参与者、商品池运营商或商品交易顾问（均定义见《商品交易法》第 1a 条），或《商品交易法》第 2(c)(2)(B) 条描述的零售外汇交易商，且 (2) 已根据《商品交易法》在商品期货交易委员会注册。
  15. 会计师事务所：任何根据第 1a 条注册的公共会计师事务所。 2002 年《萨班斯-奥克斯利法案》第 102 条。
  16. 公用事业：任何受监管的公用事业实体，如 26 USC 7701(a)(33)(A) 所定义，在美国境内提供电信服务、电力、天然气或水和下水道服务。
  17. 金融市场公用事业：任何由金融稳定监督委员会根据 2010 年《支付、清算和结算监管法》第 804 条指定的金融市场公用事业。
  18. 集合投资工具：任何由豁免条款 3（银行）、4（信用合作社）、7（证券经纪人或交易商）、10（投资公司或投资顾问）或 11（风险投资基金顾问）中描述的人员运营或提供建议的集合投资工具。
  19. 免税实体：任何符合以下条件的实体：(A) 1986 年国内税收法典第 501(c) 条所描述的组织（不考虑法典第 508(a) 条的规定而确定）并且根据法典第 501(a) 条免税的组织，但如果任何此类组织不再符合第 501(c) 条的规定并且不再根据第 501(a) 条免税，则该组织应被视为在丧失此类免税地位之日起 180 天内继续被描述为免税实体，(B) 法典第 527(e)(1) 条定义的政治组织，根据法典第 527(a) 条免税，或(C) 第 (1) 或 (2) 款所描述的信托，税法第 4947(a) 条。
  20. 协助免税实体的实体：任何实体：(A) 专门为上述豁免条款 19 中描述的任何实体（免税实体）提供财务援助或持有其治理权，(B) 为美国人，(C) 由一个或多个身为美国公民或合法获得永久居留权的美国人独家拥有或控制，并且 (D) 其资金或收入的至少大部分来自一个或多个身为美国公民或合法获得永久居留权的美国人。
  21. 大型运营公司：任何实体：（A）在美国雇用超过20名全职员工，“美国全职员工”具有26 CFR 54.4980H-1（a）和54.4980H-3中规定的含义，但CFR这些章节中使用的“美国”一词具有31 CFR 1010.100（hhh）中规定的含义，（B）在美国境内设有实体办事处，并且（C）在美国提交了上一年的联邦所得税或信息申报表，证明总收入或销售额超过5,000,000美元，并在实体的IRS表格1120，合并的IRS表格1120，IRS表格1120-S，IRS表格1065或其他适用的IRS表格中报告为总收入或销售额（扣除退货和折让）形式，不包括根据联邦所得税原则确定的来自美国境外来源的总收入或销售额。对于属于 26 USC 1504 所定义的关联公司集团并已提交合并申报表的实体，适用金额应为该集团合并申报表上报告的金额。
  22. 某些豁免实体的子公司：其所有权权益直接或间接由上述豁免 1、2、3、4、5、7、8、9、10、11、12、13、14、15、16、17、19 或 21 中描述的一个或多个实体控制或全资拥有的任何实体。
  23. 非活跃实体：指符合以下条件的任何实体：（A）2020 年 1 月 1 日或之前存在；（B）未从事活跃业务；（C）不由外国人直接或间接、全部或部分拥有；

Source：https://www.wolterskluwer.com/en/expert-insights/the-23-exemptions-from-the-corporate-transparency-act

BOI Reporting Due in 2024 (Small Business)

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

小企业受益人所有权信息合规报告 2024年底前到期

For any questions, please contact: cpa@cindiellc.com 732-896-0272 https://cindiellc.com/form/

This new rule mainly targets small businesses. Starting in 2024, newly established corporations, limited liability companies (LLCs), limited partnerships, and other entities filing formation documents with a state’s Secretary of State’s office (or similar government agency) must submit a report to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) detailing the entity’s “beneficial owners.” Entities existing before January 1, 2024, have until January 1, 2025, to comply with this requirement. This is called BOI reporting, or Beneficial Owner Information Reporting.

This regulation is part of the federal government’s efforts to combat money laundering and tax evasion by scrutinizing shell companies that conceal assets. However, it imposes significant reporting obligations on most businesses. Willful failure to provide or update the required information can result in hefty fines of up to $500 per day until the violation is corrected, or, if criminal charges are pursued, fines up to $10,000 and/or two years imprisonment. These penalties can apply to the beneficial owner, the entity, and/or the person completing the report. Beneficial owners are broadly defined as individuals who directly or indirectly own more than 25% of the entity’s ownership interests or exercise substantial control over the entity (even without ownership interest). This includes many senior officers and key decision-makers (e.g., board members). Given the severe penalties, it is safer to over-report rather than under-report beneficial owners. Entities formed after 2023 must also provide information about the company applicants (those filing the formation/registration papers and those directing the filing). The required information for beneficial owners includes their legal name, residential address, date of birth, and a unique identifier from a non-expired passport, driver’s license, or state identification card. An image of these documents must also be submitted to FinCEN.

23 types of entities are excepted from BOI filing: List

Entities formed before January 1, 2024, must file these reports by January 1, 2025. Entities formed in 2024 have 90 days from formation/registration to file, while those formed after 2024 must file within 30 days.

Any changes in the reported information, such as changes in a beneficial owner’s address or name, a new passport number, or an updated driver’s license, must be reported within 30 days to avoid penalties. It is crucial to discuss who qualifies as a beneficial owner in your business and establish systems to keep this information current. Please contact our office soon to schedule an appointment for further discussion.

For more information, visit: https://www.fincen.gov/boi or Click the FINCEN Facts or Cindie can help and you can file yourself as well https://www.youtube.com/watch?v=GydCvfbKxPw

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从2024年开始，所有新成立的公司、有限责任公司（LLCs）、有限合伙企业以及其他在州务卿办公室（或类似政府机构）提交成立文件的实体，必须向美国财政部金融犯罪执法网络（FinCEN）提交一份报告，提供有关实体“实际受益人”的指定信息。2024年1月1日之前存在的实体必须在2025年1月1日之前提交这些报告。

此规定是联邦政府打击洗钱和逃税的一部分，旨在深入调查那些用于隐藏资金的空壳公司。然而，这将对大多数企业施加繁重的报告义务。故意未能提供或及时更新所需信息可能导致每天高达500美元的罚款，直到违规行为得到纠正，或者在刑事指控下，罚款高达10,000美元和/或两年监禁。这些处罚可以适用于实益所有人、实体和/或完成报告的人员。 实益所有人被广泛定义为直接或间接拥有实体超过25%所有权权益或对实体行使实质控制权的个人（即使他们实际上没有所有权权益）。这包括许多高级管理人员和关键决策者（例如，董事会成员）。鉴于严厉的罚款，宁可过度报告也不要漏报实益所有人。2023年以后成立的实体还必须提供有关公司申请人的信息（实际提交成立/注册文件的人以及主要负责指导或控制文件提交的人）。实益所有人必须提供的信息包括其法定姓名、居住地址、出生日期和非过期护照、驾驶执照或州身份证的唯一标识号。实体还必须向FinCEN提供这些文件的图像。

2024年1月1日之前成立的实体必须在2025年1月1日前提交这些报告。2024年成立的实体有90天的时间自成立/注册之日起提交报告，而2024年之后成立的实体必须在成立/注册后的30天内提交报告。

如果报告的信息发生任何变化，例如实益所有人的地址或姓名变更、新护照号码、更换或更新的驾驶执照，必须在30天内报告这些变化，以避免罚款。请务必尽快讨论谁可能被视为贵公司中的实益所有人，并建立系统以确保这些信息保持最新。请尽快联系我们的办公室安排进一步讨论的预约。

详细中文介绍，请点击美国财政部金融犯罪执法网络BOI说明 自己做? https://www.youtube.com/watch?v=GydCvfbKxPw

Florida Tax and Asset Protection Benefits佛罗里达州税收和资产保护福利

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group , , , ,

Cindy Yu, Florida CPA

Email: cpa@cindiellc.com  Phone: (732) 896-0272
Address:14767 Lattice Ct, Jacksonville FL3226

Florida Taxes and No Taxes 佛罗里达州有税和无税

Florida is known as one of the lowest-taxed states in the country in part because there is no state income tax. The state government largely funds its operations through fees, sales taxes and revenue from the federal government revenue from the federal government

While Florida does not tax personal income, it’s important to note that the state does place a levy on corporate profits. So if you own a company doing business in Florida, you may owe money to the state government.

Local governments in Florida also depend on property taxes for revenue. So even though there is no statewide property tax, you’ll want to consider these municipal costs when calculating the tax burden you’ll face in Florida.

佛罗里达州被称为全国税收最低的州之一，部分原因是没有州所得税。 州政府主要通过费用、销售税和来自联邦政府的收入为其运营提供资金

虽然佛罗里达州不对个人收入征税，但值得注意的是，该州确实对企业利润征税。 因此，如果您拥有一家在佛罗里达州开展业务的公司，您可能欠州政府钱。

佛罗里达州地方政府的收入也依赖财产税。 因此，即使没有全州范围的财产税，您在计算佛罗里达州将面临的税收负担时也需要考虑这些市政成本。

Florida Assets Protection Rules佛罗里达州资产保护规则

A Florida resident’s primary residence is protected from levy and execution by their judgment creditors by Article X Section 4 of the Florida Constitution. Florida also provides its residents with statutory creditor protection for life insurance proceeds and cash value, annuities, retirement accounts, and wages. This helps foster peace of mind that certain of your assets are not as easily reached by creditors. For married couples, Florida recognizes the Tenancy by the Entireties (TBE) form of joint survivorship ownership over real and personal property. TBE property may be protected from the creditors of one spouse if the other spouse is not also a party to the underlying claim.

根据佛罗里达州宪法第 X 条第 4 条，佛罗里达州居民的主要住所不受判定债权人的征税和执行。 佛罗里达州还为其居民提供人寿保险收益和现金价值、年金、退休账户和工资的法定债权人保护。 这有助于让您安心，因为债权人不会轻易获得您的某些资产。 对于已婚夫妇，佛罗里达州承认对不动产和动产的共同生存所有权的整体租赁 (TBE) 形式。 如果一方配偶不是相关索赔的一方，则 TBE 财产可能会受到一方配偶债权人的保护。

Obviously, if you spend more than half your time in Florida, you won’t reach the 183-day threshold in the state where you spend your summers. If you can’t spend that much time in Florida, then take a vacation, visit family or friends, or otherwise spend time in some other location — anything to avoid spending 183 days or more in your high-tax summer state.

显然，如果您有一半以上的时间在佛罗里达州度过，那么您在夏季所在的州将无法达到 183 天的门槛。 如果您不能在佛罗里达州度过那么多时间，那么可以去度假、拜访家人或朋友，或者以其他方式在其他地方度过一段时间 — 尽量避免在高税收夏季州度过 183 天或更长时间。

Take Action to Protect Yourself from IRS

Cindy Yu, Managing Partner of CPG, CINDIE Professional Group

CINDIE CPA Firm Email: cpa@cindiellc.com  Phone: (732) 896-0272
Address: Address: 200 Centennial Avenue, Suite 106, Piscataway, NJ 08854

IRS Tax Tip 2023-64

What the right to challenge the IRS’s position and be heard means for you?

IRS is in actin. Many clients received letters from IRS. You have the right to take actions as well.

IRS wants every taxpayer to be know and understand their rights in the event they need to work with the IRS on a personal tax matter. These 10 fundamental rights are collectively known as the Taxpayer Bill of Rights. Included on this list is the right to challenge the IRS’s position and be heard. Here’s more about what this right means for you.

You have the right to:

  • Raise objections.
  • Provide additional documentation in response to formal or proposed IRS actions.
  • Expect the IRS to consider their timely objections.
  • Have the IRS consider any supporting documentation promptly and fairly.
  • Receive a response if the IRS does not agree with their position.

Here are some specific things this right affords:

  • In some cases, the IRS will notify you that their tax return has a math or clerical error. If this happens, the taxpayer:
    • Has 60 days to tell the IRS that they disagree.
    • Should provide copies of any records that may help correct the error.
    • May call the number listed on the letter or bill for assistance.
    • Can expect the agency to make the necessary adjustment to their account and send a correction if the IRS upholds the taxpayer’s position.  
  • Here’s what will happen if the IRS does not agree with the taxpayer’s position:
    • The agency will issue a notice proposing a tax adjustment. This is a letter that comes in the mail.
    • This notice provides the taxpayer with a right to challenge the proposed adjustment.
    • You make this challenge by filing a petition in U.S. Tax Court. You must generally file the petition within 90 days of the date of the notice, or 150 days if it is addressed outside the United States.  
  • You can submit documentation and raise objections during an audit. If the IRS does not agree with the your position, the agency issues a notice explaining why it is increasing the tax. Prior to paying the tax, the you have the right to petition the U.S. Tax Court and challenge the agency’s decision.  
  • In some circumstances, the IRS must provide you with an opportunity to have hearing with the independent Office of Appeals before taking enforcement actions to collect tax debt. These actions include levying the your bank account immediately after filing a notice of federal tax lien in the appropriate state filing location. If the you disagree with the decision of the Appeals Office, they can petition the U.S. Tax Court.

挑战美国国税局立场和发表意见的权利对纳税人意味着什么

许多客户收到了美国国税局的信件。 您也有权采取行动。国税局希望每个纳税人在需要与国税局就个人税务问题合作时了解并理解他们的权利。 这 10 项基本权利统称为纳税人权利法案。 此列表中包括挑战美国国税局立场和发表意见的权利。 这里详细介绍了这项权利对您意味着什么。

您有权：

  • 提出异议。
  • 提供额外的文件以响应正式或拟议的 IRS 行动。
  • 期待美国国税局考虑他们及时提出的反对意见。
  • 让美国国税局及时公正地考虑任何支持文件。
  • 如果 IRS 不同意他们的立场，请收到回复。

以下是这项权利提供的一些具体内容.在某些情况下:

  • 美国国税局会通知您他们的纳税申报表存在数学或文书错误。 如果发生这种情况，纳税人：
    • 有 60 天的时间告诉 IRS 他们不同意。
    • 应提供可能有助于更正错误的任何记录的副本。
    • 可拨打信件或账单上列出的号码寻求帮助。
    • 如果国税局坚持纳税人的立场，可以期望该机构对其账户进行必要的调整并发送更正。
  • 如果美国国税局不同意纳税人的立场，将会发生以下情况：
    • 该机构将发布建议税收调整的通知。 这是邮寄来的一封信。
    • 本通知赋予纳税人对拟议调整提出异议的权利。
    • 您通过向美国税务法庭提交请愿书来提出质疑。 您通常必须在通知发出之日起 90 天内提交申请，如果是在美国境外寄送，则为 150 天。
  • 您可以在审计期间提交文件并提出异议。 如果 IRS 不同意您的立场，该机构会发出通知，解释其增加税收的原因。 在缴纳税款之前，您有权向美国税务法庭提出申诉并质疑该机构的决定。
  • 在某些情况下，国税局必须为您提供机会，让您在采取执法行动追讨欠税之前与独立的上诉办公室举行听证会。 这些行动包括在适当的州备案地点提交联邦税收留置权通知后立即征收您的银行账户。 如果您不同意上诉办公室的决定，他们可以向美国税务法院提出申诉。