United States: Legacy Giving: Tax Considerations For Sustained Philanthropy

Published in the New Hampshire Bar Association – Bar News

Clients interested in sustained charitable giving often choose to contribute to a donor-advised fund (DAF) or establish a private foundation, but unlike these options, a private operating foundation permits the donor to be actively engaged in charitable activities.

For each of these three common options for ongoing charitable giving, there are important tax considerations.
Donor Advised Fund
A donor advised fund is one in which a donor makes […]

By |March 20th, 2015|

United States: Alabama Legislator Introduces Broad Unitary Combined Reporting Bill

As part of Republican Governor Robert Bentley’s eight-bill revenue package, Representative Mike Hill (R-Columbiana) has introduced a mandatory unitary combined reporting bill (often called “MUCR”), H.B. 142, that would be retroactively effective for tax years beginning after December 31, 2014. During the Governor’s 2015 State of the State address last week, he summarized the bill as follows:
If Alabama families have to pay their fair share of taxes, so should large national and international corporations. […]

By |March 19th, 2015|

More Tax Changes Affecting UK Residential Property – Part 1: New SDLT Rules (A “Mansion Tax” For Londoners) And Increased ATED Charges

New SDLT Regime for UK Residential Property
On 3 December 2014, the Government announced fundamental and important changes to the stamp duty land tax (“SDLT”) rules applying to purchases of UK residential property. With effect from 4 December 2015, the rate of SDLT payable is now dependant on the portion of the purchase price which falls within specific bands, and is no longer a single flat rate on the total purchase price. The new rates […]

By |March 19th, 2015|