Topic
Charitable Contribution Deduction
256 published works
Preservation | Family Wealth Protection and Planning
Oops! I bid (on) it again … Can I at least get a tax deduction?
“Any other bids? And….sold to No. 45 for $1,500!” Yes! You have outbid the other contenders at the local humane society’s charity auction to win a five-night stay at a…
The CPA Desk
Factors for Size of Charitable Deduction
By PKF Texas
Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you’re allowed to deduct. Your deduction depends on more…
Estates and Taxes
Charitable Contributions After Tax Reform
One of the changes made by the new tax act was to increase the standard deduction to $12,000 or $24,000 for a married couple filing jointly. The upshot of that…
Law on Purpose
Hobby Lobby Case Highlights Limitations on Charitable Deductions Claimed by Irrevocable Trusts
Green v. U.S., No. 16-6371 (10th Cir., Jan. 12, 2018) Practitioners and donors often forget a pesky donation limitation that applies only to irrevocable trusts: the deduction for a real…
Connecticut State & Local Tax Alert
A Strategy for Maintaining the Tax Efficiency of Charitable Contributions In 2018
By Ray Casella, Richard I. Cohen, Ira Goldman, Kelly Smith Hathorn, Louis B. Schatz
The Tax Cuts and Jobs Act (the “Act”) may take the Qualified Charitable Distribution (QCD), a planning technique authorized in IRC Section 408(d)(8) that allows charitable contributions to be made…
Tax Controversy Report
Tax Court Holds IRS Complied with Supervisor Approval Requirement
The Tax Court’s recent opinion in Roth v. Commissioner, T.C. Memo. 2017-248, raises interesting issues about the need for supervisor approval when the IRS asserts penalties. In 2007, the petitioners…
Nonprofit Law Prof Blog
New Tax Law and Nonprofits
The end of 2017 brought significant new tax legislation. Although the Johnson Amendment remained intact, the increase in the standard deduction means that fewer people will itemize deductions, which, in…
Nonprofit Law Prof Blog
The Tax Reform Moving Target: The Shrinking Charitable Contribution Deduction (+ Slamming Rich (Private) Universities)
Given the uncertainty regarding whether Congress will enact tax reform, much less what will be in it, trying to analyze how it could affect charities and other tax-exempt nonprofits is…
Nonprofit Law Prof Blog
House Republicans’ Tax Bill Preserves Charitable Contribution Deduction, But Will It Be Less Utilized?
According to The New York Times (here and here), Republicans in the House of Representatives release proposed legislation today that would institute some significant changes to the Internal Revenue Code. Although…
Agricultural Law and Taxation Blog
The “Perpetuity” Requirement For Donated Easements
OverviewA popular tax technique for certain taxpayers, including farmers and ranchers, involves the donation of a permanent conservation easement. A conservation easement is a voluntary restriction on the use of…