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I work with Iowa nonprofits, and the donors who fund them — more here. But today, Friday, is perhaps a particularly good reminder about the importance of charities and charitable giving. My favorite hour of the week happens on Friday — from 9 a.m. to 10 a.m., Iowa time. Every week the great Tom Ashbrook […]
Today’s U.S. Supreme Court case The United States Supreme Court ruled today, by an 8-1 margin, for an expansive reading of antidiscrimination law, holding Abercrombie & Fitch can be sued for failing to hire a Muslim woman who came to a job interview wearing a headscarf. It matters not whether the fashion retailer had actual […]
Famous Irish writer Oscar Wilde said, “I have the simplest tastes. I am always satisfied with the best.” Here are a few of my best ideas about stretching your charitable dollar. Why not give now, rather than later? Let me tell you about my imaginary friend, Aideen O’Murphy. Aideen intends to donate to charity eventually, at […]
A charitable donation is deductible to the extent the donation exceeds the value of any goods or services received in exchange. So what happens when you donate to your favorite charity and receive something tangible in return? This is the issue of “quid pro quo” in charitable gift law. Quid pro quo (“something for something” […]
TAX CONSEQUENCES OF THE GIFT OF YOUR HORSE TO CHARITY Introduction Today the Preakness is being run, so what about a gift horse? You could sell your horse and donate the proceeds; then we’re talking about a cash gift. But if you’ve owned the horse more than two years, the horse could be treated as […]
Introduction You could sell your horse and donate the proceeds; then we’re talking about a cash gift. But if you’ve owned the horse more than two years, the horse could be treated as a long-term capital asset. [Generally speaking, you only have to own property for more than one year to claim long term capital […]
Is your NCAA bracket busted? Mine sure is – I’d hoped the three Iowa teams would have more success. But all the talk about brackets made me think about a common misunderstanding about tax brackets. Pop Quiz: If you are in the 25% tax bracket, does that mean your gross income is taxed at 25%? […]
The March/April edition of The Iowa Lawyer features an article by Gordon Fischer about charitable giving the smart way. To see, click right here: http://digital.turn-page.com/i/479281-march-april-2015 Read now, and please share with me your comments!
Will the story of Prince Farming have a fairytale ending? ABC’s The Bachelor, Season 19, is coming to a close. On tonight’s finale, Chris Soules, the dreamy farmer from beautiful Arlington, Iowa, will choose between Whitney and Becca. Who will get the final rose? Whitney says she loves Chris, but does she really want to give up the big […]