減少和避免所得稅的藝術(shù)[文獻(xiàn)翻譯]_第1頁
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1、原文：原文：TheFineArtofReducingAvoidingIncomeTaxesStartingwiththeTariffActof1913whichencompassesthefirstincometaxonindividualsfollowingtheadoptionoftheSixteenthAmendmenttaxpayershavebeenzealouslyattemptingtominimizetheirtaxli

2、ability.Unftunatelyintheirdesiretoachievethisresultvariousschemeshavebeendevisedwhichbderonfraud.Thisarticleexplessometaxplanningideasfindividualswhichmayprovidetaxpayersthewherewithaltoattaintheirgoallowerincometaxes.It

3、shouldbenotedhoweverthatbefeimplementinganyofthesuggestedideasindividualsshouldreviewthemwithqualifiedcounsel.CAPITALGAINSLOSSESUndertheTaxRefmActof1969thealternativetaxonlongtermcapitalgains(gainsonthesaleofcapitalasset

4、sheldfMEthansixmonths)hasbeenmodified.FtaxableyearsbeginningafterDecember311969thefirst$50000oflongtermcapitalgainsfindividualsestatestrustsistaxedat25%.Anylongtermcapitalgains(i.e.excesslongtermcapitalgainsovershttermca

5、pitallosses)inexcessof$50000isthensubjecttoaneffectivemaximumtaxof35%(50%ofthecurrentmaximumtaxrateof70%).shttermcapitalgains(i.e.excessshttermcapitalgainsoverlongtermcapitallosses)arestilltaxedasdinaryincome.Atfirstblus

6、hitwouldappearthatsignificanttaxsavingscouldbeachievedbystructuringsalesofcapitalassetstoobtainthebenefitsofthealternativetax.Inrealitythisisonlyillusy.Themaximumtaxsavingsonecanhopetoachieveviathealternativetaxprocedure

7、isonly$5000.EXHIBITAMaximumtaxonlongtermcapitalgains35%Maximumtaxonthefirst$50000oflongtermcapitalgain25%Difference10%TaxSavingsundertheAlternativeTaxFirst$50000ofLongtermcapitalgain10%$5000ptfolioismadetoensurethatthema

8、ximumbenefitsareachievedwhenusingthecapitalgainslossprovisions.Obviouslythetimingofthetaxpayer’ssaleofcapitalassetsbecomescrucial.SHTSALESAGAINSTTHEBOXLONGINBENEFITSThesophisticatedinvesthasbeenabletoutilizetheshtsaleaga

9、insttheboxtechniquetocontrolthetaxtimingofcapitalgains.Althoughtheinvestatthetimeoftheshtsalehasfixedhisoveralleconomicgainthetaxablegainisnotrealizeduntiltheshtsaleisclosedoutthatisthesecuritiesaredeliveredtothepurchase

10、r.MeoverpritoAugust1967shtingagainsttheboxwasalsousedtocircumventthewashsalerules.CanthisshtsaletechniquebefurtherextendedtocompletelyeliminatecapitalgainsonsalesofsecuritiesHereishowitwouldwk.Mr.Smithowns100sharesofXCo.

11、whichareheldbyhisbroker.OnSeptember11973heinstructshisbrokertosellthesesecurities“shtagainstthebox.“AtthispointMr.SmithiscreditedwiththeproceedsofthesaleinashtaccountwhilestillmaintaininghislongpositioninXCo.Stock.Thusth

12、ereisnotaxableeventasyet.NmallyMr.SmithwouldthencloseouttheshtsaleinJanuary1974effectivelypostponingtherecognitionofcapitalgainfrom1973to1974.Thisisthestardtransaction.HoweverMr.Smithhasnointentionofclosingoutthetransact

13、ionduringhislifetimesincerecanobtainasubstantialamountofcashimmediatelywithoutincurringanytax.Theresultswouldbeasfollows:1.DURINGHISLIFETIME.Norecognitionofcapitalgainonthesaleof100sharesofXCo.Sincethesalewasnotclosedout

14、.2.MR.SMITHSESTATE.Thepossibilityofnorecognitionofcapitalgain.Thetaxbasisofthe100sharesoftheXCo.heldinthelongpositionwouldtakeonasteppedupestatetaxvalue.Ifthesesecuritiesarethenusedtocloseouttheshtsalethesteppedupbasiswo

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