Understand the tax benefits and rules related to gifts of inventory and other assets.
Many business entities and individuals wish to support the mission and programs of important charitable organizations with gifts of inventory and other assets. This course will review the unique considerations and rules governing the tax benefits for gifts of inventory and other assets. Applicable IRS publications and forms will be shared and explained.
Learning Objectives
- You will be able to explain the general tax deduction rules applicable to gifts of inventory.
- You will be able to identify business entity considerations for gifts.
- You will be able to discuss general tax rules for gifts of other assets.
- You will be able to recognize special considerations for various types of gifts.
Agenda
Gifts of Inventory
- General Considerations
- Tax Deduction Rules
- Income Tax Deduction Limitation for Inventory Gifts
- Special Rules for Food Inventory
- Business Entity Considerations
- C Corporation
- S Corporation
- Limited Liability Corporation
- Partnership
Gifts of Other Assets
- General Tax Rules
- Stock
- Real Estate
- Intellectual Property
- Other Special Considerations
- Gifts of Time or Services
- Qualified Sponsorship Payments
- Loans of Cash or Assets
Speakers
Philip M. Purcell, Esq,
Consultant for Philanthropy, LLC- Director of planned giving for the Central Territory of the Salvation Army
- Adjunct faculty, Indiana University Lilly School of Philanthropy and Maurer School of Law
- Consultant for publicly supported charitable organizations and private foundations within the U.S. and internationally
- Frequent speaker at local, regional, and national conferences
- Member of the IRS Tax Exempt Organization Advisory Council (Midwest region) and the American and Indiana State Bar Associations
- President-elect of the American Council on Gift Annuities and past director of the National Association of Charitable Gift Planners
Who Should Attend
This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, and enrolled agents.
