The IRS recently indicated that it would approve of charitable giving programs where the donor still manages the donated assets, subject to certain conditions and restrictions. As you have made charitable contributions in the past, you may wish to investigate using a donor-managed account as part of your charitable giving activities.
Most small tax-exempt organization with gross receipts of $50,000 or less, may be required to file Form 990-N, “Electronic Notice (e-Postcard) for Tax-Exempt Organizations not Required To File Form 990 or 990-EZ.” Small organizations were not required to file annual information with the IRS before the Pension Protection Act of 2006 enacted the filing requirement […]
Private foundations are an undervalued tool for both income and estate planning. They are often bashed in the press for being cumbersome and expensive to operate but we disagree with this opinion.