In the tax world, when someone refers to a “charitable” organization, it is likely they are using the term in its generally accepted legal sense to include not-for-profit corporations or charitable trusts that are organized...more
8/13/2025
/ 501(c)(3) ,
Charitable Organizations ,
Excise Tax ,
Executive Compensation ,
Exemptions ,
New Legislation ,
Nonprofits ,
Private Foundations ,
Public Charities ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Unrelated Business Income Tax
How was your Thanksgiving? I hope you celebrated the holiday in a pleasant setting with folks whose company you enjoyed, and with plenty of good food. I hope you participated in some interesting conversations or joined in...more
12/11/2024
/ Beneficiaries ,
Exemptions ,
Generation-Skipping Transfer ,
Gifts ,
Grantors ,
Irrevocable Trusts ,
IRS ,
Modification ,
Private Letter Rulings ,
Probate Courts ,
Taxable Income ,
Transfer Taxes ,
Trust Distributions ,
Trusts
Like Peas in a Pod?
What do private, not-for-profit colleges and hospitals have in common? There are quite a few items that come immediately to mind:
•They may qualify for exemption from federal income tax.
•Tax-exempt...more
4/20/2023
/ CHNA ,
Colleges ,
Exclusions ,
Executive Compensation ,
Exemptions ,
Federal Taxes ,
Financial Assistance Policies ,
Hospitals ,
IRS ,
Mayo Clinic ,
Net Investment Income ,
Public Charities ,
Tax Exemptions ,
Teaching Hospitals ,
UBIT ,
Unrelated Business Income Tax
According to a report issued by the National Association of Realtors a couple of days ago, last year saw a large outmigration of people from California and New York, while Florida and Texas experienced a comparably large...more
2/3/2023
/ Beneficiaries ,
Closely Held Businesses ,
Domicile ,
Estate Planning ,
Exemptions ,
Gifts ,
Grantor Trusts ,
Income Taxes ,
New York ,
Non-Residents ,
Settlors ,
State and Local Government ,
Tax Liability ,
Trusts ,
Value Appreciation ,
Wealth Tax