20 18 what is the tax situation after immigrating to the United States?

There are more and more people applying for retirement in the United States, and paying taxes is a big reason. For those who want to immigrate to the United States, paying taxes is also a problem that must be faced after the application is successful. 20 18 what is the tax situation after immigrating to the United States? I compiled the following articles, hoping to help you.

After the passage of the 20 18 budget, the American tax reform ushered in heavy good news, and the "most ruthless" tax reform bill in American history was released! The individual tax is reduced to five grades, and the corporate tax is reduced to 20% at one time!

On June 2, local time in the United States, 165438, the US House of Representatives and Republicans announced a 429-page tax reform plan called the Tax Reduction and Employment Act, aiming at reducing taxes for enterprises and families. * * * The Republican Party said that the draft tax reform can provide an average tax reduction of $65,438 +0. 182 for four American families. This is undoubtedly the most powerful tax reform plan in American history!

According to the tax reduction rules, it includes the following main contents:

Key points of the latest tax plan in the United States

I. Individual income tax

1, personal income tax grade simplification

Reduce the original personal income tax bands from seven to three, with tax rates of 12%, 25% and 35%, and maintain the current highest income tax rate of the rich at 39.6%.

● Those whose annual income is below $24,000 are exempt from income tax (the tax rate is 0%);

● 12%: the annual income of a single person is less than $45,000, and the total annual income of husband and wife is less than $90,000;

●25%: the annual income of singles is less than 200,000 US dollars, and the total annual income of husband and wife is less than 260,000 US dollars;

●35%: the annual income of singles is less than 500,000 dollars, and the total annual income of husband and wife is less than 6,543,800 dollars.

● If the threshold of 35% is exceeded, for example, the declared annual income of husband and wife exceeds US$ 6,543.8+0,000, and the applicable income tax rate is 39.6%.

2. The personal income tax exemption will be tripled.

The standard deduction for husband and wife's combined declaration will be increased from the current $65,438+$02,700 to $24,000, and the standard deduction for single declaration will be increased from the current $6,530 to $65,438+$02,000. This means that if the total income declared by both husband and wife is less than $24,000, there is no need to pay taxes.

3. Increase the deduction for raising children.

The tax credit for child support has been increased from the current $65,438+0,000 to $65,438+0,600. In addition, a new tax credit project has been added, so that parents and people who need to raise non-children (such as family elders) can enjoy a tax credit of $300.

4. Tax deduction

● Retained property tax (the upper limit is 65,438 yuan+0,000 yuan)

● Keep the mortgage interest (the new mortgage is capped at $500,000, and the excess interest is no longer tax-free. The existing mortgage remains unchanged, and the upper limit is still $654.38+$00,000. )

● Keep charitable donations.

Cancel other tax credits, including state taxes (which have a greater impact on residents with heavier taxes in deep blue states, such as California and new york).

5. Does not affect the retirement plan 40 1(k)

Second, corporate tax.

The corporate tax rate will be reduced from 35% to 20% at one time, and the new income tax rate of 25% will be applicable to small family businesses, including sole proprietorships, partnerships and S-type companies. American enterprises pay the lowest tax on overseas profits 10%.

Third, inheritance tax.

The scope of assets exempted from property inheritance tax will be doubled, and it is planned to cancel the property inheritance tax after six years.

Is the strongest tax reform plan what you want?

After the tax reform plan is released, there must be people who are happy and worried.

Who benefits the most? For the low-income groups in the United States, the ordinary middle class with an annual income of less than 654.38+10,000, families with young children, and ultra-high-income families with an annual salary of 480,050-11,000,000 dollars are all great benefits.

At the same time, it has a great influence on most China companies and China people who want to start businesses in the United States. Because many China people come to the United States to start their own businesses, such as opening Chinese restaurants, law firms, dental clinics and accounting firms. The high corporate tax has put great pressure on their business. Now that the corporate tax has plummeted, they finally have a chance to breathe and win more living space.

Of course, the biggest winner is the rich. Although Trump promised that any reform would focus on the middle class, mainly to reduce the burden on the middle class, in fact, the rich benefited the most. The biggest beneficiaries are the rich, who account for 20% of the total household income in the United States, and families with annual incomes exceeding $480,000. At present, the highest level of personal income tax remains unchanged at 39.6%, but the inheritance tax may be cancelled permanently.

In short, the tax reform in the United States will greatly reduce the taxes of enterprises and the rich. For investors, investing in the United States will usher in the best opportunity.