Sharpe Blog

Sharpe Blog

Posted October 31st, 2017

Let’s Look at Some Key IRS Rulings, Part 1

The first is a bedrock ruling from 1978, Revenue Ruling (Rev. Rul.) 78-197. This ruling deals with the situation in which an individual gives closely held stock to a charity, and the donor’s corporation subsequently redeems (buys back) the stock. In a terse ruling, the IRS said that the buy-back won’t be considered as a… read more

Posted October 26th, 2017

Tax Reform Update 10/26/17

There’s been a little movement in the tax reform bill. The House of Representatives passed the Senate’s 2018 budget, in effect moving tax reform forward. In addition, the House Ways and Means Committee has announced that tax reform debate will begin on November 6. Here are two articles from “The Hill” with more details about… read more

Posted October 16th, 2017

What Makes Up the Tax Law?

This is an important matter, because it goes to what can be relied upon in trying to answer certain gift planning questions. The bedrock tax law is the Internal Revenue Code (IRC), which has passed both congressional houses and been signed into law by the president. (The Constitution speaks even more fundamentally to certain tax… read more

Posted October 10th, 2017

Why Do Individuals Make Charitable Gifts the Way They Do?

This is a gift planning question because it goes to how different individuals make charitable gifts differently. Most modest gifts and some large gifts are made in cash, which tend to be current, outright gifts. Givers of modest amounts aren’t looking to do anything fancy either in terms of what they give or in terms… read more

Posted October 4th, 2017

Tax Reform Update 10/4/17

As promised (and mentioned in this blog), the framework for the tax reform proposal by the White House, House Ways and Means Committee, and Senate Committee on Finance, was presented on Wednesday, September 27. Since that announcement, many various media outlets and financial experts have weighed in. In particular, we find this preliminary analysis by… read more

Posted September 27th, 2017

Tax Reform Update 09/27/17

Congress and the White House announced today the release of the outline on tax reform they promised for this week. A public press event, “Release of Unified Tax Reform Framework,” is planned for today (Wednesday, September 27, 2017) at 2:15 p.m. ET. It will be live-streamed on speaker.gov/live. The nine-page document, “Unified Framework for Fixing Our… read more

Posted September 26th, 2017

Making the Most Generous Time of the Year Work for Your Organization

As many fundraisers know, the last three months of the year can be the most productive time period for nonprofit fundraising. This may be especially true this year. With record highs in the stock market, charitable giving up and continuing to rise, and tax reform discussions looming, it may be particularly important to encourage more… read more

Posted September 19th, 2017

Answers to “A Gift Planning Quiz”

Click here to view original post, “A Gift Planning Quiz.” Questions & Answers: Q. Donor uses highly appreciated stock to pay a legally enforceable pledge. Why isn’t Donor treated as selling or exchanging the stock so that Donor realizes a capital gain? Hint: If an individual pays a debt by transferring appreciated stock to the… read more

Posted September 15th, 2017

Congressional Outline for Tax Reform Expected Soon

Sharpe Group experts will be monitoring tax reform measures and news as talks continue and legislation is prepared. We’ll be posting updates on this blog. According to this news story from NBC News which ran on September 14, a Congressional outline should be coming around Sep 25, but legislation is not yet ready to be… read more

Posted September 13th, 2017

A Gift Planning Quiz

Here’s a quiz. Answers next time. Donor uses highly appreciated stock to pay a legally enforceable pledge. Why isn’t Donor treated as selling or exchanging the stock, so that Donor realizes a capital gain? Hint:  If an individual pays a debt by transferring appreciated stock to the creditor, the individual is treated as selling or… read more

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