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Posted November 10th, 2017

Tax Reform Update 11/10/17

  The Senate GOP tax reform bill was unveiled on 11/09/17. Here is what we know today. Click here for the Associated Press’s initial announcement on 11/09. Click here for the summary of the Senate’s bill. Click here for a summary of the House bill. Here are a few articles that offer various perspectives on… read more

Posted November 8th, 2017

Tax Reform Update 11/08/17

The GOP Tax Reform Bill appears to be moving along as scheduled at this time. It is now in the process of being marked up by members of the House of Representatives. You can follow that process by clicking here. The overall goal is for the House to pass a bill this month and then… read more

Posted November 2nd, 2017

Tax Reform Update 11/02/17

The bill has been released. Here are a few helpful links with the bill and some more information, plus a video of a panel discussion about tax reform including Robert Sharpe and Sandra Swirski at The Philanthropy Roundtable Annual Meeting last week. “House Republicans Unveil Sweeping Plan to Slash Tax Rates” via The Hill “READ: The… read more

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 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 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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