THE INS AND OUTS OF CHARITABLE GIVING LAW--MADE EASY! Written by renowned author Bruce R. Hopkins, Charitable Giving Law Made Easy is a must-read guide for accountants, consultants, investors, nonprofit executives, and fundraising professionalsanyone needing to know the essentials of the laws involving charitable giving. This authoritative guide presents in-depth discussions on such hot topics as the timing of charitable deductions, estate and gift tax considerations, special property rules, and planned giving. It also includes crucial information on deduction reduction rules, the twice-basis…mehr
THE INS AND OUTS OF CHARITABLE GIVING LAW--MADE EASY! Written by renowned author Bruce R. Hopkins, Charitable Giving Law Made Easy is a must-read guide for accountants, consultants, investors, nonprofit executives, and fundraising professionalsanyone needing to know the essentials of the laws involving charitable giving. This authoritative guide presents in-depth discussions on such hot topics as the timing of charitable deductions, estate and gift tax considerations, special property rules, and planned giving. It also includes crucial information on deduction reduction rules, the twice-basis deductions, uses of life insurance, and international charitable giving. * Designed to get you quickly up to speed, you will discover: * How to handle the complex legal issues involved when individuals give money or property to charitable organizations * Invaluable information on unique charitable gift situations * Advice on how to navigate valuation, disclosure, reporting, and other regulatory issues * The many new laws and law provisions just enacted by Congress Packed with practical tips and hard-to-find advice, Charitable Giving Law Made Easy sheds light on complex legal issues concerning charitable giving with plain-language explanations of laws and regulations for non-legal professionals.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
BRUCE R. HOPKINS is the country's leading authority on tax-exempt organizations and is a senior partner with the firm Polsinelli Shalton Welte Suelthaus PC. He is the author or coauthor of nineteen books, including The Law of Tax-Exempt Organizations, Eighth Edition (and the forthcoming Ninth Edition); Planning Guide for the Law of Tax-Exempt Organizations; Nonprofit Law Made Easy; 650 Essential Nonprofit Law Questions Answered; The Law of Fundraising, Third Edition; Private Foundations: Tax Law and Compliance, Second Edition; The Tax Law of Charitable Giving, Third Edition; The Law of Intermediate Sanctions; and The Law of Tax-Exempt Healthcare Organizations, Second Edition, as well as the newsletter Bruce R. Hopkins' Nonprofit Counsel, all published by Wiley.
Inhaltsangabe
Preface ix About the Author xi Chapter 1 Charitable Giving Law: Basic Concepts 1 Charitable Organizations 2 Charitable Contributions 2 Introduction to Charitable Deductions 4 Private Foundations 5 Public Charities 5 What Difference Does It Make? 10 Types of Donors 10 Factors Affecting Deductibility of Contributions 11 Grantor Trust Rules 12 Donor-Advised Funds 12 Charitable Giving Subtleties 14 Charitable Pledges 18 Public Policy Considerations 18 Some Statistics 21 Summary 22 Chapter 2 Contributions of Money and Property 23 Contributions of Money 23 Nature of Property 24 Contributions of Property in General 25 Contributions of Long-Term Capital Gain Property in General 27 Contributions of Ordinary Income Property 27 Certain Contributions of Capital Gain Property 31 Contributions of Property for Unrelated Use 33 Step Transaction Doctrine 35 Valuation of Property 41 Summary 44 Chapter 3 Timing of Charitable Deductions 45 Overview 46 Contributions of Money in General 47 Contributions of Money by Check 47 Contributions by Debit or Credit Card 48 Contributions of Money by Telephone 49 Contributions of Securities 49 Contributions of Copyright Interests 52 Contributions by Means of Notes 52 Contributions by Letters of Credit 53 Contributions of Property Subject to Option 53 Contributions of Credit Card Rebates 56 Contributions of Tangible Personal Property 57 Contributions of Real Property 57 Timing Set by Statute 57 Contributions by Corporations 58 Contributions by Partnerships 59 Contributions by Means of the Internet 61 Summary 62 Chapter 4 Percentage Limitations on Charitable Deductions 63 Introduction 63 Individuals' Contribution Base 66 Corporations' Taxable Income 67 Overview of Percentage Limitations 67 50 Percent Limitation 69 30 Percent Limitation for Gifts of Certain Property 71 Electable 50 Percent Limitation 74 General 30 Percent Limitation 78 Interplay of 50 Percent/Special 30 Percent Limitations 79 Interplay of 50 Percent/General 30 Percent Limitations 79 Interplay of Special 30 Percent/General 30 Percent Limitations 80 20 Percent Limitation 80 Contributions for Use of Charity 81 Blending Percentage Limitations 81 Individuals' Net Operating Loss Carryovers and Carrybacks 83 Rules for Spouses 84 Information Requirements 86 Percentage Limitation for Corporations 87 Corporations' Net Operating Loss Carryovers and Carrybacks 88 Illustrations 89 Summary 91 Chapter 5 Estate and Gift Tax Considerations 92 Introduction to Taxes 92 Federal Gift Tax 94 Federal Estate Tax 103 Unification of Taxes 110 Estate Planning Principles 111 Remainder Interests 119 Ascertainability of Charitable Interests 123 Generation-Skipping Transfer Tax System 125 Summary 128 Chapter 6 Special Property Rules 129 Works of Art 129 Vehicles 131 Intellectual Property 135 Automobile Expenses 137 Inventory 138 Scientific Research Property 142 Computer Technology or Equipment 142 License to Use Patent 143 Real Property Used for Conservation Purposes 145 S Corporation Stock 149 Use of Property 154 Property Subject to Debt 154 Future Interests in Tangible Personal Property 157 Summary 158 Chapter 7 Unique Charitable Gift Situations 159 Contributions from Retirement Accounts 159 Donors' Creations 160 Charity Auctions 161 Services 167 Unreimbursed Expenses 168 Limit on Deduction Due to Pleasure 172 Bargain Sales 176 Contributions by Trusts 180 Partial Interests 186 Charitable Family Limited Partnerships 189 Foreign Tax Credit 191 Summary 192 Chapter 8 Other Aspects of Deductible Giving 193 Contributions by Means of Agent 194 Gifts for the Use of Charity 195 Conditional Gifts 197 Earmarking of Gifts for Individuals 200 Deduction Reduction Rules 204 Twice-Basis Deductions 204 Alternative Minimum Tax Considerations 205 Business Expense Deduction 207 Lobbying Activities 207 Corporate Sponsorships 208 Gifts to Noncharitable Organizations 212 Reallocation of Deductions 214 Funding of Terrorism 215 Statute of Limitations 215 Concept of Trust Income 216 Penalties 219 Summary 224 Chapter 9 Planned Giving 225 Introduction 225 Charitable Remainder Trusts 228 Early Termination of Remainder Trusts 234 Pooled Income Funds 235 Charitable Gift Annuities 238 Other Gifts of Remainder Interests 239 Charitable Lead Trusts 243 Application of Securities Laws 243 Application of Antitrust Laws 245 Summary 246 Chapter 10 Gifts of and Using Life Insurance 247 Introduction 247 Life Insurance Concepts 248 Charitable Giving and Life Insurance 251 Insurable Interest 257 Unrelated Debt-Financed Income Considerations 261 Charitable Split-Dollar Insurance Plans 261 Summary 269 Chapter 11 International Charitable Giving 270 Introduction 270 Background 271 Earmarking and Conduit Restrictions 273 Control over Foreign Donees 276 Income Tax Treaties 280 Estate and Gift Tax Considerations 281 Estate Tax Rules 281 Gift Tax Rules 286 Charitable Giving by Noncitizen Nonresidents 287 Corporate Gifts to U.S. Charity for Overseas Use 288 Gifts of Goods or Services to Benefit Foreign Charity 289 Grants of Funds from U.S. Corporation-Related Foundations to Foreign Charity 290 Summary 299 Chapter 12 Administration of Charitable Giving Programs 300 Burden of Proof Rules 300 Gift Substantiation Requirements 301 Disclosure of Gifts of Property 307 Dispositions of Contributed Property 309 Appraisal Requirements 310 Offering of Information or Services 315 Tax Shelters 315 Quid Pro Quo Contribution Rules 317 Disclosure by Noncharitable Organizations 320 State Fundraising Regulation 323 Summary 336 Glossary 337 Epilogue 339 Index 352
Preface ix About the Author xi Chapter 1 Charitable Giving Law: Basic Concepts 1 Charitable Organizations 2 Charitable Contributions 2 Introduction to Charitable Deductions 4 Private Foundations 5 Public Charities 5 What Difference Does It Make? 10 Types of Donors 10 Factors Affecting Deductibility of Contributions 11 Grantor Trust Rules 12 Donor-Advised Funds 12 Charitable Giving Subtleties 14 Charitable Pledges 18 Public Policy Considerations 18 Some Statistics 21 Summary 22 Chapter 2 Contributions of Money and Property 23 Contributions of Money 23 Nature of Property 24 Contributions of Property in General 25 Contributions of Long-Term Capital Gain Property in General 27 Contributions of Ordinary Income Property 27 Certain Contributions of Capital Gain Property 31 Contributions of Property for Unrelated Use 33 Step Transaction Doctrine 35 Valuation of Property 41 Summary 44 Chapter 3 Timing of Charitable Deductions 45 Overview 46 Contributions of Money in General 47 Contributions of Money by Check 47 Contributions by Debit or Credit Card 48 Contributions of Money by Telephone 49 Contributions of Securities 49 Contributions of Copyright Interests 52 Contributions by Means of Notes 52 Contributions by Letters of Credit 53 Contributions of Property Subject to Option 53 Contributions of Credit Card Rebates 56 Contributions of Tangible Personal Property 57 Contributions of Real Property 57 Timing Set by Statute 57 Contributions by Corporations 58 Contributions by Partnerships 59 Contributions by Means of the Internet 61 Summary 62 Chapter 4 Percentage Limitations on Charitable Deductions 63 Introduction 63 Individuals' Contribution Base 66 Corporations' Taxable Income 67 Overview of Percentage Limitations 67 50 Percent Limitation 69 30 Percent Limitation for Gifts of Certain Property 71 Electable 50 Percent Limitation 74 General 30 Percent Limitation 78 Interplay of 50 Percent/Special 30 Percent Limitations 79 Interplay of 50 Percent/General 30 Percent Limitations 79 Interplay of Special 30 Percent/General 30 Percent Limitations 80 20 Percent Limitation 80 Contributions for Use of Charity 81 Blending Percentage Limitations 81 Individuals' Net Operating Loss Carryovers and Carrybacks 83 Rules for Spouses 84 Information Requirements 86 Percentage Limitation for Corporations 87 Corporations' Net Operating Loss Carryovers and Carrybacks 88 Illustrations 89 Summary 91 Chapter 5 Estate and Gift Tax Considerations 92 Introduction to Taxes 92 Federal Gift Tax 94 Federal Estate Tax 103 Unification of Taxes 110 Estate Planning Principles 111 Remainder Interests 119 Ascertainability of Charitable Interests 123 Generation-Skipping Transfer Tax System 125 Summary 128 Chapter 6 Special Property Rules 129 Works of Art 129 Vehicles 131 Intellectual Property 135 Automobile Expenses 137 Inventory 138 Scientific Research Property 142 Computer Technology or Equipment 142 License to Use Patent 143 Real Property Used for Conservation Purposes 145 S Corporation Stock 149 Use of Property 154 Property Subject to Debt 154 Future Interests in Tangible Personal Property 157 Summary 158 Chapter 7 Unique Charitable Gift Situations 159 Contributions from Retirement Accounts 159 Donors' Creations 160 Charity Auctions 161 Services 167 Unreimbursed Expenses 168 Limit on Deduction Due to Pleasure 172 Bargain Sales 176 Contributions by Trusts 180 Partial Interests 186 Charitable Family Limited Partnerships 189 Foreign Tax Credit 191 Summary 192 Chapter 8 Other Aspects of Deductible Giving 193 Contributions by Means of Agent 194 Gifts for the Use of Charity 195 Conditional Gifts 197 Earmarking of Gifts for Individuals 200 Deduction Reduction Rules 204 Twice-Basis Deductions 204 Alternative Minimum Tax Considerations 205 Business Expense Deduction 207 Lobbying Activities 207 Corporate Sponsorships 208 Gifts to Noncharitable Organizations 212 Reallocation of Deductions 214 Funding of Terrorism 215 Statute of Limitations 215 Concept of Trust Income 216 Penalties 219 Summary 224 Chapter 9 Planned Giving 225 Introduction 225 Charitable Remainder Trusts 228 Early Termination of Remainder Trusts 234 Pooled Income Funds 235 Charitable Gift Annuities 238 Other Gifts of Remainder Interests 239 Charitable Lead Trusts 243 Application of Securities Laws 243 Application of Antitrust Laws 245 Summary 246 Chapter 10 Gifts of and Using Life Insurance 247 Introduction 247 Life Insurance Concepts 248 Charitable Giving and Life Insurance 251 Insurable Interest 257 Unrelated Debt-Financed Income Considerations 261 Charitable Split-Dollar Insurance Plans 261 Summary 269 Chapter 11 International Charitable Giving 270 Introduction 270 Background 271 Earmarking and Conduit Restrictions 273 Control over Foreign Donees 276 Income Tax Treaties 280 Estate and Gift Tax Considerations 281 Estate Tax Rules 281 Gift Tax Rules 286 Charitable Giving by Noncitizen Nonresidents 287 Corporate Gifts to U.S. Charity for Overseas Use 288 Gifts of Goods or Services to Benefit Foreign Charity 289 Grants of Funds from U.S. Corporation-Related Foundations to Foreign Charity 290 Summary 299 Chapter 12 Administration of Charitable Giving Programs 300 Burden of Proof Rules 300 Gift Substantiation Requirements 301 Disclosure of Gifts of Property 307 Dispositions of Contributed Property 309 Appraisal Requirements 310 Offering of Information or Services 315 Tax Shelters 315 Quid Pro Quo Contribution Rules 317 Disclosure by Noncharitable Organizations 320 State Fundraising Regulation 323 Summary 336 Glossary 337 Epilogue 339 Index 352
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