Publications
Year-End Tax Planning 2025
The Game-Changing Tax Reforms You Need to Know before December 31, 2025 to save on your taxes. One Big Beautiful Bill Act (OBBBA), signed into law this past July, represents the most comprehensive federal tax reform since 2017. This year-end action plan provides deadlines for you to consider including tax analysis, investment portfolio review, charitable giving strategy, retirement plan funding, and making updates to your estate plan.
Navigating The Charitable Deduction Minefield: Insights From The IQ Holdings Case
As the landscape of charitable giving and tax planning becomes increasingly complex, adherence to IRS requirements is not just a recommendation but a necessity to safeguard against penalties and maximize tax benefits.
The IQ Holdings case highlights several critical requirements that taxpayers must meet to successfully claim charitable deductions under Section 170 of the Internal Revenue Code.
Innovative Philanthropy: Beyond Traditional Grantmaking
Innovative alternatives that are reshaping how philanthropic goals are achieved
Here are the top three questions clients ask about alternatives to grantmaking:
1. What are the primary purposes that program-related investments (PRIs) within social welfare activities should achieve? PRIs within social welfare activities should primarily carry out one or more of the purposes specified under section 170(c)(2)(B) of the Internal Revenue Code 2. How can a 501(c)(4) organization engage in political activity and lobbying while keeping its status as a social welfare organization? 3. What are the tax implications and operational considerations when using non-501(c)(3) structures for philanthropy?
Why Its Important To Write A Good Thank You Letter
What we were all told as children—it is important write a prompt thank you letter for any gifts received, even that eye-searing sweater you hide in the closet. This goes doubly so for charities who receive a donation. Donors should check whether the documents from the charity acknowledging their donation includes the amount of cash donated, a description of non-cash donations, whether there are any goods and services provided in return for the donation and what the estimated value of those goods and services might be.
Going Beyond Preserving A Collection – The Private Operating Foundation
Many times, an artist or collector wishes to preserve their art collection by donating the collection to a museum or charity. Often the museum, university or other organization is unwilling or unable to integrate, preserve, store and display the entire collection along with the associated documents. Even if there is a financial gift to sufficiently endow the collection today, there is no certainty that the endowment will be able to fund the charity indefinitely into the future. If you are an artist or a collector wanting to preserve your collection, consider a Private Operating Foundation. This entity can be used not only to preserve a legacy but to define and shape the future.
