In part 1 of this article, we reviewed the federal law on permitted investments for self-directed IRAs and the various tax, compliance and reporting rules that apply to individual retirement accounts (IRAs). Part 2 discusses...more
Private foundations are a favored vehicle for many charitably inclined clients — particularly those who seek to take a hands-on approach to their charitable mission while establishing a lasting legacy for their families....more
Federal tax law prohibits nonprofit organizations from providing private inurement and unwarranted private benefit. Failure to comply with these basic rules jeopardizes an organization’s tax-exempt status. Layered on top of...more
As private foundations and other charitable organizations look forward to the end of the coronavirus pandemic and the return of in-person events, it may be a good idea to review the self-dealing rules involving event tickets...more
Private foundations are subject to special rules relating to conflicts of interest. These are called “self-dealing” rules. These rules flatly prohibit transactions between interested persons (known as “disqualified persons”)...more