Publications

Navigating The Charitable Deduction Minefield: Insights From The IQ Holdings Case
Charitable Donations, Tax Deductions Matthew Erskine Charitable Donations, Tax Deductions Matthew Erskine

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.

Read More
Innovative Philanthropy: Beyond Traditional Grantmaking

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?

Read More
Yvon Chouinard And The Patagonia Purpose Trust— What Is It And Will It Work?

Yvon Chouinard And The Patagonia Purpose Trust— What Is It And Will It Work?

The Patagonia Perpetual Trust and the non-profit Holdfast Collective is, in my opinion, and elegant strategy to achieve Yvon Chouinard’s, and his family’s, objectives. Though the Purpose trust they will be able to ensure the succession of the management of the company and, hopefully, its profitable existence for decades to come as well as a high level of satisfaction for all of the stakeholders in the company. Through the Collective, those public policy and charitable purposes of Chouinard will benefit from the profits of the company. The only one who loses will be the government, since if the entire $3 billion value of the company was taxable Chouinard’s estate would owe $1.6 billion, or more if after 2025, in federal estate taxes.

Read More
Why Its Important To Write A Good Thank You Letter
Charitable Donations, Deed of Gift, Tax Planning Matthew Erskine Charitable Donations, Deed of Gift, Tax Planning Matthew Erskine

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.

Read More
Tactics To Reduce Your Capital Gains Tax And Your Estate Tax

Tactics To Reduce Your Capital Gains Tax And Your Estate Tax

To those who have highly appreciated assets and expect their estates to exceed $3.5 million, is to be better educated about these tactics and their advantages and disadvantages especially with the turbulent environment for tax laws in the coming years.

Read More