Sharpe Blog

Archive for August, 2016

Posted August 22nd, 2016

The Importance of Proper Gift Receipts

Let’s take a look at the Durden Case, which case involves $25,171 in cash contributions made by the Durdens to their church in 2007. This is a Tax Court case. The Durdens went to court because the IRS threw out their claimed charitable deduction for these gifts. Let’s be clear. There was no dispute over… read more

Posted August 9th, 2016

Let’s Spend Time With Lead Trusts – Pt 6

Last time, we saw that there is the “plain vanilla” CLAT, for which the donor gets a gift tax charitable deduction but not an income tax charitable deduction. We also saw that it’s possible to set up a CLAT so that the donor does get an up-front income tax charitable deduction in addition to a… read more

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