What is the real estate gift tax after immigrating to the United States?

One difference between American tax and China tax is that there are gift tax and inheritance tax in American tax. These two taxes are of great concern to many investors in the United States. As a certified public accountant in America, I will briefly introduce the gift tax and inheritance tax in America through this blog.

Gift tax and inheritance tax are taxes set up by the American government to adjust social class differences, which are mainly applicable to American citizens and American green card holders. To put it in simpler terms, a person who gives free gifts to others before his death is subject to gift tax, and the distribution of property after his death is subject to inheritance tax. So these two taxes are actually unified.

Let's start with the gift tax. Gift tax is divided into annual gift tax limit and lifetime gift tax limit. The donation amount in 20 12 is 13000 USD, and it will be adjusted to 14000 USD in 20 13. The so-called annual gift amount means that if an American donated cash or assets below $65,438+03,000 to others in 2065,438+02, there is no need to declare or explain the lifetime gift amount. If both husband and wife give the same gift, it will be doubled, that is, $26,000 (20 13 is adjusted to $28,000). The recipient need not be a direct or collateral relative, but anyone can. If the gift exceeds the above amount, it needs to be declared and disclosed in the tax bill, occupying the lifetime gift amount. The gift tax is now $565,438+020,000 for life and165,438+002,400,000 for husband and wife. If it exceeds this figure, the approved tax rate is 35%. Of course, this figure is relatively high, basically only affecting the rich in the United States 1-2%.

If an American receives a gift from a non-American, it has nothing to do with the gift tax. However, if the gift received by the recipient exceeds $654.38 million per year, it needs to be disclosed and declared in the tax form.

Inheritance tax is actually a continuation of gift tax. The lifetime limit of inheritance tax is now $5 120000, and that of husband and wife is $ 1 10240000. This amount is shared with the gift tax. This amount must be subtracted from the amount given by a person before his death to get the final amount of lifelong inheritance tax. Therefore, the more gifts you give before you die, the less money you inherit after you die. At present, the approved tax rate of inheritance tax is 35% after the excess.