Given the current real estate market, some owners are feeling more charitably inclined than they used to be. The thought crossing their minds is something along the lines of, Well, if I can't sell it, maybe I can donate it and get some benefit...
The Internal Revenue Service and the courts have been very active this year in the charitable arena. There have been informal reports of increased audit activity by the IRS, and the public record shows a sample outcome of those audits. The...
The federal estate tax is, in a sense, voluntary, because the estate tax charitable deduction allowed under Internal Revenue Code Section 2055(a) can reduce any taxable estate to zero. On the other hand, relatively few estates are now subject to...
Self-made people are often conflicted about philanthropy. Many of them work very hard for their wealth and, to a certain extent, measure their self-worth by the size of their pile. If a client's goal is to not only build his pile but also be...
Private foundations (PFs) remain popular because wealthy donors often want to maintain control over donated assets. In a similar vein, many wealthy families form family offices to provide greater control and oversight over their financial affairs...
Charitable pledges and restricted gifts continue to serve as common means of supporting favored causes. Given the significant capital invested through such gifts, the need for deliberate planning and comprehensive negotiation becomes more...
Precedents, those cases we look back to again and again for guidance when preparing returns or preparing for an Internal Revenue Service audit, aren't typically pro se cases. Van Dusen,1 decided in early June 2011, is an exception. Jan Elizabeth...
