A. State and Local Taxes
Latest Senate and House Tax Bills limit Property Tax deductions to $10,000 maximum. Since the Limit amount is up in the air, why not do what we know for Tax Year 2017 which is, there is no maximum limit to property tax. If you can, pay your 2018 property taxes before the end of the year. As long as the payment is processed and completed by 12/31/2017, you can double deduct your property tax.
With both versions of the bills, state and local tax deductions are to be eliminated. If you are able to estimate how much income and deductions you will have, you can send an estimate payment for tax year 2018. As long as the payment is processed and completed by 12/31/2017, you can deduct that amount one last time. Be aware, doing this may trigger AMT and over payment refunds are more likely to be scrutinized by the state.
B. Home Equity Loan/Line of Credit
The interest from this may not be deductible next year. It is best to either pay off the loan asap or talk to your bank and financial adviser for help.
C. Income
If you can, defer your income to 2018 as the rate will be lower across the board for everyone.
D. Undoing IRA Rollover
The House bill has a provision that eliminates the grace period to undo a Tradition IRA to Roth IRA roll over. Usually its Oct 15 of the year following the conversion. The proposal is, once its done its done.
E. First-In-First-Out
The Senate Bill has a provision where your investments are to be sold as "First In First Out" which means lowest cost and highest gain. Before you had many different choices. Although not confirmed yet, make a plan to see if this will affect your taxes next year and sell this year on the choice you prefer.
F. Medical Expenses
House bill removes this deduction completely. Senate reduces the threshold from 10% to 7.5% of your adjusted gross income. Watch out as the increased Standard Deduction might prevent you from itemizing.
G. Charitable Donations
This year might be advantageous to give to charity. The fact that standard deductions are larger, fewer people will be itemizing deductions. You may not be able to claim charitable donations in 2018. You may want to consider opening a donor advised fund.
A.房屋稅及州和地方稅
參議院和眾議院的最新稅收法案將地稅抵扣限制為最高$10,000.既然限制額度還未決定,因為我們所瞭解的2017年稅法沒有上限額度, 所以可以的話儘量把你2018年的地稅在今年前交完. 只要你在2017年12月31日前完成付款, 你的地稅就可以雙重抵扣.
不論哪個版本的法案,州和地方稅收抵扣都將被廢除
. 如果您能夠估算出您將賺取多少收入和抵扣款,你就可以預付你
2018年納稅年度的稅款. 只要在
2017年12月
31日前完成付款, 您就可以最後一次抵扣該稅款
. 但請注意,這樣有可能觸發
AMT,超額稅收退款得由州政府審查.
B.房屋淨值貸款/信貸
明年這種貸款的利息可能不能抵免
. 最好盡快還清貸款或與您的銀行和財務顧問聯繫來尋求幫助.
C.收入
如果條件允許,把你的收入推遲到2018年,因為到時候每個人的收入利率都會降低.
D.廢除撤銷轉存IRA
眾議院法案決定廢除取消從傳統IRA轉到羅斯IRA的寬限期. 通常是在轉換後的10月
15日.轉換後就不能再改回來了.
E.先入先出
參議院法案規定您的投資要以“先買先賣
”的方式出售,這意味著最低成本,最高利潤. 以前,你有許多不同的選擇.
雖然還沒有定案,但你可以規劃一下,看看這是否會影響你明年的稅收, 選擇是否在今年就以你喜歡的計算利潤方式出售.
F.醫療支出
眾議院的法案完全廢除了這個抵扣. 參議院將調整總收入的門檻從
10%降至7.5%.
但得注意,增加的標準扣除可能會讓您無法逐項分列扣除.
G.慈善捐款
今年可能有利於慈善捐款。因為標準扣除額提高的事實，能夠逐項列舉扣除的人數相對減少。在2018 你可能無法抵扣慈善捐款。你甚至可以考慮開一個捐助者建議資金。