Wills, Trusts, & Estate Planning Nonprofits Tax

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Legacy Gifting: Private Foundation vs. Philanthropic Fund

Are you considering making a significant charitable legacy gift? What type of vehicle should you use? Donors often have similar goals in mind — helping a charity dear to their heart and saving on taxes. However, donors may...more

Charitable Planning with S Corporation Stock—Making It Work

Since 1998, charities have been able to own S corporation stock (“S stock”). However, the ownership of S stock by an exempt organization may result in either an unexpected tax burden or a liability rather than an asset for...more

Wealth Management Update - August 2014

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

The charitable corporation: A trust in disguise?

The charitable trust can have certain practical advantages over the charitable corporation, at least in some quarters and under certain circumstances. Operational simplicity and low-cost maintenance are some of the pluses....more

‘Tis the Season – For Year-End Charitable Giving

Most people make the bulk of their charitable contributions during the year-end holiday season. This post summarizes some of the charitable giving ideas and opportunities, as well as some planning reminders, that donors may...more

Consider a Private Foundation to Fulfill Your Philanthropic Goals

There are a variety of vehicles through which individuals and families can promote their charitable giving goals, and private foundations are often a leading choice. Simply stated, a private foundation is a type of charitable...more

Charitable Giving: Better Late than Never

The American Taxpayer Relief Act of 2012 (the “Act”), signed into law by President Obama on January 2, 2013, extends favorable tax treatment for qualified charitable distributions made from IRAs (”Individual Retirement...more

Preparing for the 3.8% Medicare Surtax on Net Investment Income

The Patient Protection and Affordable Care Act of 2010 (Affordable Care Act) institutes a new 3.8 percent Medicare surtax on net investment income effective January 1, 2013. In addition, absent congressional action to extend...more

Anonymous Charitable Giving

Clients often ask how they can make their philanthropic gifts anonymously. There are several reasons they cite for this practice: (a) their gifts may be published in the charity’s website, publications or annual reports,...more

Contributions to Section 501(c)(4) Organizations and the Gift Tax

Tax-exempt section 501(c)(4) organizations are defined by the Internal Revenue Code as “social welfare organizations.” Treas. Reg. section 1.501(c)(4)-1(a)(2) provides that the organization must be “primarily engaged in...more

Advanced Estate and Tax Planning for Art and Other Fine Collections

A composite of studies of trust and estate attorneys, trust officers, and financial planners revealed that: • Fewer than 10% of plans for their clients addressed art, antiques, and collectibles • Fewer than 10% used art...more

Boosters or Bust: Should Booster Clubs File For Tax Exemption

My musings on boosters clubs and filing for tax exemption. ...more

Other Recent PA Tax Developments

Philadelphia Hotel Tax The Court of Common Pleas of Philadelphia County has upheld the Philadelphia Tax Review Board’s ruling that Expedia, an online vendor of discount hotel rooms, is not an “operator” of a hotel, and is...more

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