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Charitable Giving Law Made Easy

ISBN: 978-0-471-78353-4
368 pages
November 2006
Charitable Giving Law Made Easy (0471783536) cover image
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. 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.
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Preface.

About the Author.

Chapter 1. Charitable Giving Law: Basic Concepts.

Charitable Organizations.

Charitable Contributions.

Introduction to Charitable Deductions.

Private Foundations.

Public Charities.

What Difference Does It Make?

Types of Donors.

Factors Affecting Deductibility of Contributions.

Grantor Trust Rules.

Donor-Advised Funds.

Charitable Giving Subtleties.

Charitable Pledges.

Public Policy Considerations.

Some Statistics.

Summary.

Chapter 2. Contributions of Money and Property.

Contributions of Money.

Nature of Property.

Contributions of Property in General.

Contributions of Long-Term Capital.

Gain Property in General.

Contributions of Ordinary Income Property.

Certain Contributions of Capital Gain Property.

Contributions of Property for Unrelated Use.

Step Transaction Doctrine.

Valuation of Property.

Summary.

Chapter 3. Timing of Charitable Deductions.

Overview.

Contributions of Money in General.

Contributions of Money by Check.

Contributions by Debit or Credit Card.

Contributions of Money by Telephone.

Contributions of Securities.

Contributions of Copyright Interests.

Contributions by Means of Notes.

Contributions by Letters of Credit.

Contributions of Property Subject to Option.

Contributions of Credit Card Rebates.

Contributions of Tangible Personal Property.

Contributions of Real Property.

Timing Set by Statute.

Contributions by Corporations.

Contributions by Partnerships.

Contributions by Means of the Internet.

Summary.

Chapter 4. Percentage Limitations on Charitable Deductions.

Introduction.

Individuals’ Contribution Base.

Corporations’ Taxable Income.

Overview of Percentage Limitations.

50 Percent Limitation.

30 Percent Limitation for Gifts of Certain Property.

Electable 50 Percent Limitation.

General 30 Percent Limitation.

Interplay of 50 Percent/Special 30 Percent Limitations.

Interplay of 50 Percent/General 30 Percent Limitations.

Interplay of Special 30 Percent/General30 Percent Limitations.

20 Percent Limitation.

Contributions for Use of Charity.

Blending Percentage Limitations.

Individuals’ Net Operating Loss Carryovers and Carrybacks.

Rules for Spouses.

Information Requirements.

Percentage Limitation for Corporations.

Corporations’ Net Operating Loss Carryovers and Carrybacks.

Illustrations.

Summary.

Chapter 5. Estate and Gift Tax Considerations.

Introduction to Taxes.

Federal Gift Tax.

Federal Estate Tax.

Unification of Taxes.

Estate Planning Principles.

Remainder Interests.

Ascertainability of Charitable Interests.

Generation-Skipping Transfer Tax System.

Summary.

Chapter 6. Special Property Rules.

Works of Art.

Vehicles.

Intellectual Property.

Automobile Expenses.

Inventory.

Scientific Research Property.

Computer Technology or Equipment.

License to Use Patent.

Real Property Used for Conservation Purposes.

S Corporation Stock.

Use of Property.

Property Subject to Debt.

Future Interests in Tangible Personal Property.

Summary.

Chapter 7. Unique Charitable Gift Situations.

Contributions from Retirement Accounts.

Donors’ Creations.

Charity Auctions.

Services.

Unreimbursed Expenses.

Limit on Deduction Due to Pleasure.

Bargain Sales.

Contributions by Trusts.

Partial Interests.

Charitable Family Limited Partnerships.

Foreign Tax Credit.

Summary.

Chapter 8. Other Aspects of Deductible Giving.

Contributions by Means of Agent.

Gifts for the Use of Charity.

Conditional Gifts.

Earmarking of Gifts for Individuals.

Deduction Reduction Rules.

Twice-Basis Deductions.

Alternative Minimum Tax Considerations.

Business Expense Deduction.

Lobbying Activities.

Corporate Sponsorships.

Gifts to Noncharitable Organizations.

Reallocation of Deductions.

Funding of Terrorism.

Statute of Limitations.

Concept of Trust Income.

Penalties.

Summary.

Chapter 9. Planned Giving.

Introduction.

Charitable Remainder Trusts.

Early Termination of Remainder Trusts.

Pooled Income Funds.

Charitable Gift Annuities.

Other Gifts of Remainder Interests.

Charitable Lead Trusts.

Application of Securities Laws.

Application of Antitrust Laws.

Summary.

Chapter 10. Gifts of and Using Life Insurance.

Introduction.

Life Insurance Concepts.

Charitable Giving and Life Insurance.

Insurable Interest.

Unrelated Debt-Financed Income Considerations.

Charitable Split-Dollar Insurance Plans.

Summary.

Chapter 11. International Charitable Giving.

Introduction.

Background.

Earmarking and Conduit Restrictions.

Control over Foreign Donees.

Income Tax Treaties.

Estate and Gift Tax Considerations.

Estate Tax Rules.

Gift Tax Rules.

Charitable Giving by Noncitizen Nonresidents.

Corporate Gifts to U.S. Charity for Overseas Use.

Gifts of Goods or Services to Benefit Foreign Charity.

Grants of Funds from U.S. Corporation–Related Foundations to Foreign Charity.

Summary.

Chapter 12. Administration of Charitable Giving Programs.

Burden of Proof Rules.

Gift Substantiation Requirements.

Disclosure of Gifts of Property.

Dispositions of Contributed Property.

Appraisal Requirements.

Offering of Information or Services.

Tax Shelters.

Quid Pro Quo Contribution Rules.

Disclosure by Noncharitable Organizations.

State Fundraising Regulation.

Summary.

Glossary.

Epilogue.

Index.

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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.
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  • Bruce R. Hopkins is one of the country's legal leading authorities on tax-exempt organizations. He is widely respected and highly visible as both a lecturer and author (more than 16 books published with Wiley).
  • Written by a lawyer for non-lawyers, this book presents essential, practical legal information in easy-to-understand English.
  • Includes "practical tips" and "red flags" that provide practical advice.
  • Incorporates many tables and exhibits to summarize/clarify content.
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