Conrad Teitell

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

February 23, 2018 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Now that many more clients will be taking the standard deduction, making direct transfers from IRAs to charities is a smart tax strategy for additional donors. And, direct IRA transfers from IRAs can also be advantageous for taxpayers who itemize.

By Conrad Teitell

9 minute read

December 22, 2017 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell writes: Volunteers who contribute their time 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. Clients who are itemizers may deduct unreimbursed expenses that they incur incidental to their volunteer work.

By Conrad Teitell

5 minute read

October 20, 2017 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell analyzes a scenario in which an individual who sold publicly traded stock can avoid the capital gains tax.

By Conrad Teitell

7 minute read

August 25, 2017 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell reviews a recent case where a claimed $33 million charitable deduction—a remainder interest in real property given to a university—was disallowed because the donor failed to state the contributed property's cost on Form 8283, and according to the Tax Court, was about $29.5 million too high anyway.

By Conrad Teitell

15 minute read

June 23, 2017 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell discusses 'McGrady', T.C. Memo, 2016-233, a case in which a donor claimed $4.7 million in charitable deductions for conservation easement gifts. The IRS found that the donor lacked donative intent, and the Tax Court held otherwise.

By Conrad Teitell

8 minute read

April 21, 2017 | New York Law Journal

Estate Planning and Philanthropy columnist Conrad Teitell reviews the basics of donating a car or other vehicle to charity—an area where, after years of inflated claimed deductions, Congress and the IRS have tightened the rules.

By Conrad Teitell

19 minute read

February 24, 2017 | New York Law Journal

Estate Planning and Philanthropy columnist Conrad Teitell reviews IRS key charitable figures for 2017, including a safe harbor for insubstantial donor benefits for charitable contributions, the mileage rate for a volunteer's use of an automobile for charity, and a reduction for some itemized deductions for high earners.

By Conrad Teitell

8 minute read

December 16, 2016 | New York Law Journal

In his Estate Planning and Philanthropy column, Conrad Teitell discusses tax deductions for unreimbursed expenses volunteers incur in helping charitable organizations. Costs incurred in going from home to the charity's office (or other places where they render services), phone calls, postage stamps, stationery, and similar out-of-pocket costs are deductible as charitable donations.

By Conrad Teitell

9 minute read

October 21, 2016 | New York Law Journal

Estate Planning and Philanthropy columnist Conrad Teitell takes a cue from the presidential election headlines to explore tax deductions for charitable giving. Suppose a donor had paid $5 million to a charity if Donald Trump released his tax returns or if Secretary Hil­lary Clinton released transcripts of her speeches. Answer: Trump and Clinton would each have $5 million includible in gross income for services rendered. The donor made an offer, and the offer was accepted by performance of the act.

By Conrad Teitell

5 minute read