Conrad Teitell

October 25, 2019 | New York Law Journal

The tax law encourages volunteers by allowing them to deduct the unreimbursed expenses they incur in helping charitable organizations. Conrad Teitell explores this topic in this month's edition of his Estate Planning and Philanthropy column.

By Conrad Teitell

6 minute read

August 23, 2019 | New York Law Journal

Estate Planning and Philanthropy columnist Conrad Teitell writes: Now is the time for lawyers to tell their clients about direct IRA transfers from IRAs by individuals 70½ or older. IRA administrators generally can't make the direct transfers to the designated charities at the eleventh hour.

By Conrad Teitell

6 minute read

June 21, 2019 | New York Law Journal

Estate Planning and Philanthropy columnist Conrad Teitell asks the question "What's the difference in the cost of a buffet lunch for eight people and a Buffett lunch for eight?" in the context of a cryptocurrency proponent who paid $4.57 million for a lunch with Warren Buffet.

By Conrad Teitell

5 minute read

April 19, 2019 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell discusses various provisions of the Ways and Means Committee's bill.

By Conrad Teitell

4 minute read

February 22, 2019 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Be careful out there. Commentators believe the lawsuit to invalidate the SALT limitation will be unsuccessful. The IRS will deny claimed charitable deductions for what are, in effect, required tax payments—and impose interest and penalties.

By Conrad Teitell

4 minute read

December 12, 2018 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Volunteers who contribute their time to charities certainly aren't motivated by tax breaks. Many probably don't even know they're entitled to deduct the unreimbursed expenses they incur in helping charitable organizations.

By Conrad Teitell

5 minute read

October 19, 2018 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Proposed regulations thwart state plans to work around the new $10,000 federal limit on state and local tax deductions.

By Conrad Teitell

6 minute read

August 24, 2018 | New York Law Journal

The donor allocates the property's cost basis between the gift element and the sale element, based on the fair market value of each part.

By Conrad Teitell

6 minute read

June 22, 2018 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: “The Tax Cuts and Jobs Act,” Pub. L. No. 115-97, limits an individual's deduction under IRC Section 164 for the total amount of state and local taxes (SALT) paid during the calendar year to $10,000 ($5,000 for a married individual filing a separate return)

By Conrad Teitell

1 minute read

April 20, 2018 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Not exciting—but important to know: Each year IRS adjusts charitable gift premium rules, tax tables, personal exemptions, standard deductions and other tax provisions. Here are the key charitable figures for 2018 from Rev. Proc. 2017-58, 2017-45 IRB 489 (Nov. 6, 2017) and Rev. Proc. 2018-18, 2018-10 IRB 392 (March 5, 2018).

By Conrad Teitell

4 minute read