Income Tax

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19 Jul 2018 | Income Tax | National Publication, Dennis Walsh, CPA | Article | 4 comments

IRA charitable rollovers are now a permanent part of the tax law. There is at least one little known caveat that you must be...

Richard Fox takes a close look at the efficacy of several states' attempted end run around the SALT limitations.
New code section 199A is confusing and complex and offers many planning opportunities once it is understood. Dennis Walsh helps...
Russell James provides perspective and insights into how the new tax law will impact giving.
Among the sweeping reforms passed in the new tax law are dramatic changes to the reporting of Unrelated Business Taxable Income (UBTI). Dennis Walsh...
A sample letter to donors.

Now's a good time to tell your clients how to substantiate their charitable gifts on their 2017 federal income tax returns, due April 17, 2018.

David Wheeler Newman offers a particular and strategic insight into the new tax legislation. Especially if you're a college football fan.

For years, both the capital gains tax and the estate tax have been referred to as the "Voluntary Taxes." Donors are counseled how to avoid or reduce either of these taxes, by making charitable gifts or by creating planned gift vehicles.  Dan Rice's recent...


The Treasury Department issued final regulations under IRC Section 1411 on November 26, 2013 (TD 9644, 78 Fed. Reg. 72394-01), which makes changes to the net investment income (NII) tax as it applies to charitable remainder trusts (CRTs) and wholly charitable...


Since 2010 the Patient Protection and Affordable Care Act (PPACA) has enabled many small employers that provide health insurance coverage for their employees have been eligible to claim a tax credit for premiums paid. However, many eligible churches and charities...

29 Jul 2013 | Income Tax | National Publication | Article

The 3.8% Medicare tax on net investment income provides tax incentives for implementing certain charitable giving arrangements. In this comprehensive article from the August 2013 issue of Estate Planning, attorney Richard L. Fox of  the Philadelphia...

15 Jul 2013 | Income Tax | National Publication | News story

From 2000 to 2012, at least one attorney helped terminate more charitable remainder trusts than he helped create. Times have changed and CRTs are heating up again, as the new 3.8% medicare surtax on capital gains has caught many investors unaware and looking for...

20 Mar 2013 | Income Tax | National Publication | News story

Writing for the Urban Institute, C. Eugene Steuerle suggests extending the charitable deduction deadline is a move with precedent: the government has used it to encourage giving following a natural disaster. However, temporary laws have limited effect. Consider...


Dating from the 1920's and well rooted in American tradition, the ministerial housing allowance, authorized by Section 107 of the Internal Revenue Code and which allows clergy to exclude the value of such allowances from their gross income, has survived various...

11 Feb 2013 | Income Tax | National Publication | Article | 1 comments

Everybody wants to know how the changes in the 2013 tax laws will affect them. The reality is that most Americans won’t notice much of a change but rates will go up for more affluent Americans. In this article, charitable and wealth transfer consultant Dave Holaday...

5 Feb 2013 | Income Tax | National Publication | Article | 2 comments

Although the American Taxpayer Relief Act of 2012 successfully preserved the charitable contribution income tax deduction, the victory was somewhat muted because of the phaseout of itemized deductions. However, according to David Wheeler Newman of Mitchell...

10 Dec 2012 | Income Tax | National Publication | News story

Writing for The Wall Street Journal, Laura Saunders and Hannah Karp report that tax uncertainty in Washington is setting off a mad scramble among wealthy taxpayers and charities to maximize donations before the end of the year. Their worry: The tax deduction...

7 Jan 2011 | Income Tax | National Publication | News story
In a letter to Senator Orin Hatch [R-UT], the IRS has issued guidance regarding how losses from fraudulent investment schemes are treated in charitable remainder trusts, IRAs and personal savings.
1 Dec 2010 | Income Tax | National Publication | News story
Co-chairmen of President Obama's "National Commission on Fiscal Responsibility and Reform" Erskine Bowles and Alan Simpson today released a report entitled, "Moment of Truth". Among the plan's numerous provisions is the elimination of all itemized...
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7520 Rates:  December 3.6%  November 3.6%  October 3.4%

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Recent activity

IRA Charitable Rollover - A Gold Mine with a Trap

New Section 199A - Planners, Sharpen Your Pencil

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