by Joel Roettger | Dec 20, 2017 | Charitable, Charitable Organizations, Estate Planning, Tax
The Tax Cuts and Jobs Act includes three provisions related to charitable giving. First, for gifts of cash to public charities (as opposed to nonoperating private foundations) the bill increases the amount that a taxpayer can deduct in any one year. Currently, donors...
by Joel Roettger | Nov 29, 2017 | Charitable
Charities that intend to solicit donations in Tennessee should not overlook the Solicitation of Charitable Funds Act. The Tennessee Solicitation of Charitable Funds Act, T.C.A. § 48-101-501, et seq. (“Act”), generally requires charitable organizations that intend to...
by Joel Roettger | Oct 25, 2017 | Charitable, Estate Planning, Tax
Technically, it is possible, but there would be some significant strings attached. Distributions from Donor Advised Funds (DAFs) are subject to Internal Revenue Code (IRC) § 4966. That section provides that certain distributions will be subject to excise tax. The tax...
by Joel Roettger | Sep 29, 2017 | Charitable, Tax
Must a church file an exemption application in order to be recognized as tax-exempt under I.R.C. § 501(c)(3)? No. GENERAL RULE. An organization shall not be treated as tax-exempt under I.R.C. § 501(c)(3) unless it has given notice to the Secretary in such manner as...
by Joel Roettger | May 3, 2017 | Estate Planning, Trusts
Grantor executes a charitable remainder unitrust (CRUT). CRUTs are normally subject to certain private foundation rules. However, Grantor never claims an income tax or gift tax charitable deduction with respect to the trust. Is the CRUT still subject to the private...
