小朋友的零用錢投資組合績效 2012 四月

四月份台股繼續壟罩在證所稅的陰影下，加上財報利空、法國總統選舉變天、歐債疑雲再起，繼續盤跌，一度跌破7500點。指數從 7933 跌到7501點，跌幅5.45%
兩個零用錢組合趁低點進了一些ETF，與一些大股票。

零用錢一

	2012/03	2012/04
ETF	79,430	99,730
股票	63,320	62,965
現金	53,339	19,489
總資產	196,089	192,348
成本	187,875	187,875
損益	8,214	4,473
總報酬率	4.37%	2.38%

零用錢二

	2012/03	2012/04
ETF	24,530	47,680
股票	45,770	54,714
現金	35,790	2,108
總資產	106,090	104,502
成本	101,600	101,600
損益	4,490	2,902
總報酬率	4.42%	2.86%
寶來加權指數基金	1.35%	-4.37%
台灣五十報酬指數	1.75%	-3.74%
台灣高股息報酬指數	3.92%	0.32%

兩個的跌幅都小於大盤。（其實之前的漲幅也是小於大盤，原因之一當然是有現金部位）不過經過四月份大跌，總績效已經跟定存差不多了，嗚嗚~~~
此外，為了比較這樣的擇時與部份自行挑選股票，有沒有比呆呆的定期定額投資指數來得好，所以這篇開始我會用零用錢二跟幾個定期定額的標的來比較。比較的時間區間就從零用錢二開始的時間點起算：假設從2010/07開始每個月定期定額投資某標的。比較的對象一個是實際的寶來加權股價指數基金，另外兩個是台灣五十與台灣高股息報酬指數。績效數字就直接附在零用錢二的表格最後。

總報酬率變化圖

美股投資退稅 - VWO股息預扣稅款能否退稅訊問IRS的結果

之前問了美國公司股息是屬於NEC, 所以要繳30%的稅。那麼像 VWO這種投資非美國公司的ETF的配息的預扣稅款能不能退稅呢？因為今年Firstrade的Form 1042-S ，把VWO的股息收入跟其他美國股票的股息收入合在一起成一筆 gross income. 如果非美國來源可以退稅，那該如何申報呢？於是我又寫信去問了IRS，問題原文如下：

I am a nonresident alien investor from Taiwan. My question is how to refund the 30% tax withhold of the U.S. source dividends I receive from a foreign corporation. I bought the VWO ETF through a online broker. VWO is an exchange traded fund managed by Vanguard Group, Inc. This fund invests in stocks of companies located in emerging markets around the world. It does not invest in any U.S. companies. According to Pub 519, Chapter 3, the dividends paid by foreign corporations can be exempt from the 30% tax. However, in my Form 1042-s, there is only one gross income item of code 06, which includes the dividend from VWO. For example, the  total gross income is $1000, and $300 is from VWO. Can the 30% tax withhold of the dividend from VWO can be refund ? If yes, since there is no dividend amount from VWO in Form 1042-s, should I provide the additional document which states the dividend from VWO
and the document which states that the stocks of VWO does not include the U.S. companies ?

IRS 的答覆如下：
Hello, thank you for your inquiry dated April 30, 2012 concerning how to obtain a refund of tax withheld on foreign dividends even though you received a Form 1042-S, Foreign Person's U.S. Source Income Subject to withholding which shows that they are U.S. sourced dividends.  We apologize for the delay in responding to your inquiry.

Assuming that these are foreign sourced dividends, no federal income tax should have been withheld.  The Form 1042-S that was issued should have shown Income Code 8, which represents foreign sourced dividends, rather than income code 6.  you should request that the broker furnish you with a corrected Form 1042-S

Also, the broker should refund the federal income tax that was withheld.  If the broker is unable or unwilling to refund the withholding tax, you should file a Form 1040NR, U.S. Nonresident Alien Income Tax Return showing that these dividends are foreign sourced dividends, and showing a $0 tax rate.

Additional information can be found in Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, and in Publication 519, U.S. Tax Guide for Aliens.

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我想結論應該是：
1. 應該要求borker更改 Form 1042-S. 然後broker要退回稅款
(這樣很像是之前 Firstrade 做的事)
2. 如果 broker 無法或不願退稅，就要用1040NR申請了，然後標明這些是國外股息，標明稅率是0%。

不過如果要申報，是不是需要一些佐證的文件呢？否則只有一張把美國與非美國股息收入合在一起的1042-S，恐怕有困難哩。

台積電2012年第一季每股盈餘新台幣1.29元

超乎預期喔! 第二季的展望不錯。用 1260*34.5% 計算，可以賺434億，換算EPS約1.67。到時驗證囉。
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第一季財務報告，合併營收為新台幣1,055.1億元，稅後純益為新台幣334.7億元，每股盈餘為新台幣1.29元（換算成美國存託憑證每單位為0.22美元）。2012年第一季毛利率為47.7%，營業利益率為33.6%，稅後純益率則為31.7%。

根據對當前業務狀況的評估，以及新台幣29.58元兌1美元匯率的假設，本公司2012年第二季的業績展望如下：
‧合併營收預計介於新台幣1,260億元到1,280億元之間；
‧毛利率預計介於47%到49%之間；
‧營業利益率預計介於34.5%到36.5%之間。

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此外還增加540億資本支出，擴充28奈米與提前建置20奈米工程產能。今年資本支出將大舉調升到80～85億美元。很看好後勢喔!

美股投資退稅事宜 - 股息預扣稅款能否退稅詢問IRS的結果

之前跟網友討論美股股息的預扣稅款能不能申請退稅，雖然看了文件，覺得答案八九不離十，但是網友建議可以直接問問IRS。於是就到這裡
http://www.irs.gov/help/page/0,,id=133197,00.html
寫信詢問。
隔了兩天收到回信。信件約有一半是一些基本資訊的說明，跟問題無關，我就不貼了，只貼主題相關的內容，而括弧的中文是我的簡單說明(中文，單然囉)

Your Question Was:
My question is about tax return for U.S. nonresident alien income. I bought stock of Johnson&Johnson(JNJ) through a U.S. online stock broker and received dividend from JNJ. The dividend has 30% tax withheld. My question is whether the 30% tax withheld can be return using deduction for exemptions. (Line40 in Form 1040NR).
Thanks a lot.
(信件一開始重複我問的問題)

The Answer To Your Question Is:
Thank you for your inquiry of April 21, 2012. You have questions concerning whether a personal exemption can be claimed against dividend income paid to a nonresident alien.
You did not provide enough information to properly respond to your inquiry. You did not indicate your country of residence.
Generally, dividend income received by a nonresident alien is subject to a 30 percent tax rate. This tax rate is also referred to as nonresident alien tax rate (NRA). Since dividend income is generally considered to be not effectively connected with a U.S. trade or business, it is subject to the NRA 30 percent tax rate, unless a treaty between the United States and the nonresident alien's country of residence provides for a lower tax rate. Also, since this income is not effectively connected with a U.S. trade or business, you cannot take a personal exemption on line 40 of Form 1040NR, U.S. Nonresident Alien Income Tax Return.
Thank you for using this electronic tax law service.
…
This answer is based on our understanding of the facts you presented in your question.  Omission of facts may affect the answer given.
…
EMPLOYEE ID: 1000212741    Mr. Smith    Tel.:English--(267) 941-1000    Spanish--(800)-829-1040    msg#: 1878624
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雖然信件說我沒提供我的國籍而沒法適當的回答我的問題。但是信件說了一般狀況，就是股息是要繳30%的稅的，因為股息並不是 effectively connected with a U.S. trade or business, 所以不適用免稅額。

我先問了最簡單的狀況，就是美國公司的配息，我用 JNJ 為例。那如果是VWO這種投資非美國區域的ETF的配息呢？也許再來去問一下吧。

美股投資退稅事宜 1040NR 說明文件閱讀心得 I

Form 1040NR 是 Nonresidnet Alien 申請退稅的表格。 IRS 有一份1040NR的填寫說明文件 i1040nr.pdf，填寫前可以仔細看看。
Page4 有段 Simplified Procedure for Claiming Certain Refunds。如果符合以下所有條件，就可以使用這個簡化的流程:

• You were a nonresidnet alien.
• You were not engaged in a trade or business in the United State at any time.
• You had no income that was effectively connected with the conduct of a U.S. trade or business.
• Your U.S. income tax liability was fully satisfied through withholding of tax at source.
• You are filing Form 1040NR solely to claim a refund of U.S. tax withheld at source.

然後舉了個約翰的收入例子:
John is a nonresident alien individual. The only U.S. source income he received during the year was dividend income from U.S. stocks. The dividend income was reported to him on Form(s) 1042-S. On one of the dividend payments, the withholding agent incorrectly withheld at a rate of 30% (instead of 15%). John is eligible to use the simplified procedure.
約翰的收入很單純，美國來源的收入只有來自美國股票的股息。他被預扣了30%的稅，正確應該是15%。約翰可以使用簡化程序。

1040NR的 page1 填基本資料，然後 If your income is not exepmt from tax by treaty, leave the rest of page 1 blank. If your income is exempt from tax by treaty, enter the exempt income on line 22 and leave the rest of page 1 blank. (page 1 幾乎是空白)
再來就是 page4 – Schedule NEC, lines 1a through 12. Enter the amounts of gross income you received from dividends, interest, royalties, pensions, annuities, and other income. …

從這個例子看來，約翰的美國股票股息收入並不是填在 line10a/10b, 而是填在是在 page 4。因為這筆收入是 not effectively connected with a U.S. trade or business.

不過也有 dividend 是 effectively connected with a U.S. trade or business. 不過我還沒看懂，有空繼續研究。

美股投資退稅事宜

陸續把看到文件內容整理紀錄一下，會修改，不保證一定正確。

跟 NRA (Nonresident aliens) 申請退稅有關的文件主要是Form 1040NR 的說明文件，以及Publication 519 (U.S. Tax Guide for Aliens)
先抄一段 pub519的開場白：
Nonresident aliens are taxed only on their　income from sources within the United States　and on certain income connected with the conduct　of a trade or business in the United States.

收入來源先分成美國來源(U.S. source)與非美國來源。NRA通常只要針對 U.S source income 繳稅。

再來是收入如何課稅: Nonresident aliens are taxed based on the source of their income and where or not their income is effectively connedted with a U.S. trade or business.
收入分成兩類

• Income that is effectively conncedted with a U.S. trade or business.
• Incode that is not effectively connected with a U.S. trade or business.

前者的繳稅方式跟美國公民與居民是一樣的(有免稅額與累進稅率)，後者則是用30%的單一稅率。所以重點就是要界定那些收入是 U.S. source or not，再進一步針對 U.S. source 界定那些是 effectively connected with a U.S. trade or business 或 not effectively connected。

Form 1040 的 line 8~23 (其中 line 10 是最常關注的 Ordinary dividends) 是填 Income Effectively Connected with U.S. Trade/Business。
而 Income Not Effectively Connected 應該填在 page4 的 Schedule NEC。Line1a and 1b 分別是 Dividends paid by: a. U.S. corporations and b. Foreign corporations

再來就是最常碰到的問題，投資美股收到的股息，到底是哪種收入，又是不是 connected with a U.S. trade or business。這個問題，我也看了文件看了好久。我會引用文件的原始文件來推敲答案，不見得百分之百正確，還請大家指正。

待續…

美股投資退稅資訊

又到了報稅的季節。關於美股配息的預扣稅款退稅規定，在網路上實在眾說紛紜，莫衷一是。日前有網友找到一些網頁，提供一些概要說明，我把link貼上，可以去了解一下喔。

Non-Resident Aliens and US Holdings
and
http://www.unclefed.com/AuthorsRow/Kleinman/nonresidentaliens.html

copy 文章的一段話:

No personal exemption or deductions can be applied against investment income (which is, technically, "income not effectively connected with your US trade or business"). Further, according to the IRS, "if your sole U.S. business activity is trading securities through a U.S. resident broker or other agent, you are not engaged in a trade or business in the United States" so the income is not effectively connected with a US trade or business.