What May Be Reimbursed? 44A 44A Rev Proc. - - PDF document

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What May Be Reimbursed? 44A 44A Rev Proc. - - PDF document

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16.12.2018 What May Be Reimbursed? 44A 44A Rev Proc. 20011-47; Notice 2014-57 Meals Lodging Incidentals L, M & L, M & I Exp I Expenses

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SLIDE 1

16.12.2018 1

  • Rev Proc. 20011-47; Notice 2014-57

Lodging

住宿

Meals

餐饮

Incidentals

相关开销

L, L, M & M & I Exp I Expenses 住宿、餐饮、相关费用 1. 1. 2. 2. M & I Expe M & I Expenses 餐饮和相关费用 3. 3. Incidentals Incidentals

相关费用

No No Lodg Lodging On Only R ly Rate te

  • Sec. 1
  • Sec. 1

What May Be Reimbursed?

日常津贴费可以包括哪些项目？

44A 44A

Employees O ees Only ly 仅限员工 1. 1. 2. 2. Ev Everyone 每个人 3. 3. Ev Everyone 每个人

1.

  • 1. No

No 10% 10% Corp

  • Corp. Owners

wners

  • Rev. proc
  • proc. 2006-41;

2006-41; § 6. 6.07 07 2.

  • 2. No

No self self-e

  • empl

mployed § 4. 4.03 Starr, T.C. Memo 2000-35 Duncan, T.C. Memo 2000-269

Who May Use What Per Diems?

谁可以使用哪些日常津贴项目？ Lodging

住宿

Meals

餐饮

Incidentals

相关开销

44B 44B

1 2

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SLIDE 2

16.12.2018 2

Lodging Meals & Incidentals

住宿、餐饮和相 关费用

Meals & Incidentals

餐饮和相关费用

1. 1.Daily r ily rate based on based on Locat cation

  • n

基于所在城市的每日标准额

2.

  • 2. High

gh-Low

  • Low Met

Method

  • d

最高最低扣除法

However, cannot be used by

不适用于

(1) self-employed; 个体户 (2) 10% corp. owners

公司10% 10%以上的股东 High rate $259 - 65 M&I = 194 Low rate $172 - 52 M&I = 120

1.

  • 1. Daily rate

每日标准额

2.

  • 2. Hig

High L Low w Method thod§ 5.01 能使用高低扣除法 3.

  • 3. Trans.
  • s. Ind

Industry $ 59 - CONUS $ 65 - OCNUS

30% v 30% v. 50% for 50% for §274(n) 274(n) l limit

How Much (Per Diem Rate)

日常津贴抵扣额

44C 44C

Go t Go to slide slide 47 47

房产租赁

Leasing Real Estate

$$$ $$$

租赁合约

Re Rental Agre Agreement

无个人经营税

$$ $$ Non-self employment

实体所有人

Owner Owner

无清算收益所得税

No tax on Liquidation

责任有限公司

LL LLC

小型股份制公司

S Corp

无净投资收益所得税

No NII

3 4

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SLIDE 3

16.12.2018 3

100 100 A

合伙企业

P/S

公司

Corp

$100,000 A/B $100,000 Carries Over $100,000 Substitues

Bas Basis was s was $0 $0 Fair ir Mark rket V et Value at lue at Ti Time of me of Dea Death = = $100 $100,00 ,000

§1014

Step Up in Basis

5 6

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SLIDE 4

16.12.2018 4

房产租赁

Leasing Real Estate

  • What

What if if Whole Whole Building? Building?

  • What

What if if one

  • ne

floor? floor?

  • When plac

When placed in in service? service?

Mandatory Revaluation

合伙企业

P/S

  • $ for

$ for capital capital inte interest st

  • Capit

Capital inte interest st for services for services

  • Profit

Profits inte interest st for services for services

  • IRC § 704(c) – Revalue Other Partners

7 8

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SLIDE 5

16.12.2018 5

税法第754 754条-选择性权益成本调整

754 – Optional Basis Adjustment

P1

两种方法

Tw Two Methods Methods

$$$ 743(b)

1

$$$ 734(b)

2

合伙企业

P/S

  • Cro

Cross Purchase hase

  • Re

Redemption

P2 Carol

Mandatory Revaluation

9 10

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SLIDE 6

16.12.2018 6

Admitting a Profits Interest

10%

责任 有限公司

LLC $100

178 178 A

Example

Assets

  • 10%

A/B FMV $ 30 FMV of property $ 10 ====== ( 0) Note payable ( 0)

  • $ 0
  • Net

$ 100

Balance Sheet

$ 0 Receivables Equipment 10 Goodwill 60 Liabilities Assume a

  • ne person

partnership

178 178 B

11 12

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SLIDE 7

16.12.2018 7

Book Capital Accounts After Deemed Liquidation

90% K-1 10% Book Capital Acct $ 0 $ 0 $ 0 Total ( 0) Revaluation 100 100 ===== 100

  • =====
  • =====
  • 100

Ending Book Capital Acct

  • Xiaoyi’s Interest has no value if immediately liquidated
  • Liquidating distributions must be based on capital accounts

178 178 C What if business substantially increases in value? §83(b) Example: Service provider to receive 10% profits interest 3 Year Cliff Vesting

What if P What if Partnership Increases in rtnership Increases in Va Value?

FMV today – far less $10 maybe $1-$ 2 FMV three years later $1 million 178 178 D

13 14

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SLIDE 8

16.12.2018 8

What if Ship Sinks? What if Ship Sinks?

178 178 E

  • No loss, not even a capital loss

Sectio Section 199A n 199A

  • Individuals and some trusts and estates a 20%

imaginary deduction

QBI Deduction Twenty thousand dollars 20,000 15 16

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SLIDE 9

16.12.2018 9

  • 20% of the Qualified Business Income

Combined Business Income Combined Business Income

  • 20% of the Qualified REIT and Publicly

Traded Partnership (PTP) Income

Slide 341

Ceiling Ceiling

  • Combined Business Income
  • Lesser of
  • 20% of Taxable Income or
  • Schedule C Income

$28,000

  • Married Std deduction

24,000 5,600

  • 4,000

Taxable Income before QBI ded

Slide 340 17 18

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SLIDE 10

16.12.2018 10

207 207 A

Types of Income

Trade or Business §162 §212 Rental Property Portfolio Income

3.8% 3.8% NII NII Pa Passive Loss Loss CF CF Capit Capit al al Loss Loss CF CF NOL NOL CF CF Pre Pre 2018 2018 After After 2018 2018 QTB QTB

Carry Forwards

In Invest st ment ment Intere Intere st CF st CF §46 46 1( 1(l) l) CF CF

Categories Categories

1 2 3 S< 157,500 J< 315,000 S 157,500 - 207,500 J 315,000 – 415,000 S> 207,500 J> 415,000 SSTB QBI SSTB QBI QBI

Slide 336 Slide 338 Slide 337

No wage/prop limit

19 20

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SLIDE 11

16.12.2018 11

What What’s a a

  • SSTB
  • QTB
  • Trade or Business
  • § 162 Trade or Business or?
  • § 469 Trade or business

从投资收入到营业收入

Passive to Trade or Business

活动类型

Level

  • f

Activity

投资土地

Investing in Land

住宅房产

Residential Real Estate

酒店

Hotel and motel

灰色地带

Grey

商业房产

Commercial Real Estate

营业收入

Trade or Business income

非营业收入

Non-business income

开发商

Developer

21 22

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SLIDE 12

16.12.2018 12

Cases Cases

Land:

Herbert v. Commr., 30 T.C. 26 (1958) - No

Residential Real Estate:

Espinosa v. Commr., 107 T.C. 146 (1996) - No Swallows Holding, Ltd. v. Commr., 515 F. 3d 162 (3d Cir. 2008) – No Curphey v. Commr. 73 TC 766 (1980) Yes – 6 properties, directly managed

Commercial Real Estate:

Pinchot v. Commr, 113 F.2d 718 (2d. Cir. 1940) - Yes; 11 parcels – co-owner agent managed; Lewenhaupt v. Commr., 20 T.C. 151 (1953); aff’d, 221 F.2d 227 (9th Cir. 1955) – Yes - 3 commercial; 1 residential; managed by agent Evelyn M. L. Neill, 46 B. T. A. 197 (1942) – No; 1 property, 1 tenant , net lease Eleck v. Commr. 30 T.C. 731 (1958); Yes; 1 property, 15 resid tenants; 3 commercial; personally managed then father

住宅大楼

Residential Property

6个房产

6 rentals

没有管理公司

No management company

房租收入不需交纳个体经营税

Rental income not S.E.

23 24

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SLIDE 13

16.12.2018 13

商业大楼

Commercial Property

出租的房产个数

Number of Properties Rented

日常经营管理

Day-to-day involvement or management company

租赁类型：三重净利租赁、短期租赁、长期租赁

Type of leases: triple net; short term, or long term

其他按照商业经营活动填报-税表1099

Report as trade or business other purposes – Form 1099

Go to Slide 484

Material Participation Not Required

403 403 A

小型股份制公司

S Corp

50% 50%

In In Florida Florida:

NII NII QBI QBI Activ Active Passiv ssive QBI QBI

Go t Go to slide slide 407 407

50% 50% 25 26

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SLIDE 14

16.12.2018 14

房产租赁

Leasing Real Estate

$$$ $$$

租赁合约

Re Rental Agre Agreement

无个人经营税

$$ $$ Non-self employment

实体所有人

Owner Owner

无清算收益所得税

No tax on Liquidation

责任有限公司

LL LLC

小型股份制公司

S Corp

无净投资收益所得税

No NII

102 102 A

房产租赁

Leasing Real Estate

$$$ $$$

租赁合约

Re Rental Agre Agreement

无个人经营税

$$ $$ Non-self employment

实体所有人

Owner Owner

无清算收益所得税

No tax on Liquidation

无净投资收益所得税

No NII

责任有限公司

LL LLC

小型股份制公司

S Corp

Aggregated QBI Only Tennant

524 524 A

27 28

slide-15
SLIDE 15

16.12.2018 15

Material Participation Not Required

528 528 A

50% 50% 50% 50% 51% 51% 49% 49%

Ta Tags Along Along

小型股份制公司

S Corp

小型股份制公司

S Corp

Material Participation Not Required

528 528 B

51% 51% 49% 49% 51% 51% 49% 49%

Ta Tags Along Along

小型股份制公司

S Corp

责任有限公司

LLC

29 30