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    1. Ekonomi och Ledarskap
    2. Företagsekonomi
    3. Organisation och ägarskap

    Tax Law of Private Foundations

    2024 Cumulative Supplement

    AvShane T. Hamilton,Bruce R. Hopkins

    Häftad, Engelska, 2024

    1 652 kr

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    Häftad

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    Beskrivning

    Insightful analysis and explanations of private foundation tax law along with hands-on practice tools that make compliance easier Now in its seventh edition, The Tax Law of Private Foundations by Bruce Hopkins and Shane Hamilton serves as the gold-standard reference for navigating the complex regulations governing private foundations. This comprehensive book is regularly updated to incorporate the latest changes in tax law, providing executives and professionals with valuable clarification, expert insights, and practical instruction. With every edition supplemented annually, the book remains current and relevant. It offers a clear and concise summary of the regulations governing private foundations, explaining the logic underpinning the rules. The authors provide a range of helpful tools, including checklists, sample documents, and practice forms, to simplify the filing process and ensure compliance with the latest legislation. Readers will also find: Critical analyses and considerations of existing laws and regulations, avoiding potential confusion arising from future legislationA collection of practical tools that make it simpler to comply with the regulations governing private foundationsExpert guidance on obtaining or maintaining your foundation's tax-exempt statusAn indispensable resource, this latest edition caters to individuals with personal or professional interests in private foundations, offering authoritative guidance and complete explanations in an intricate and sometimes confusing area of the law. Whether navigating the complexities of compliance or seeking deep insights, this book remains the go-to reference for understanding and managing this difficult area of taxation.

    Produktinformation

    • Utgivningsdatum:2024-12-11
    • Mått:175 x 249 x 18 mm
    • Vikt:386 g
    • Format:Häftad
    • Språk:Engelska
    • Antal sidor:256
    • Upplaga:6
    • Förlag:John Wiley & Sons Inc
    • ISBN:9781394252299

    Utforska kategorier

    • Organisation och ägarskap inom Ekonomi och Ledarskap
    • Redovisning och finansiering inom Ekonomi och Ledarskap

    Innehållsförteckning

    • Preface xiBook Citations xiii1 Introduction to Private Foundations 11.1 Private Foundations: Unique Organizations 11.2 Definition of Private Foundation 21.4 Private Foundation Law Primer 2(f) Excess Business Holdings Rules 2(l) Unrelated Business Rules 21.7 Organizational Rules 21.8 Private Foundation Law Sanctions 3(b) Self-Dealing Sanctions as Pigouvian Taxes 3(c) Self-Dealing Sanctions: Taxes or Penalties? 4(e) Potential of Overlapping Taxes 51.9 Statistical Profile 52 Starting, Funding, and Governing a Private Foundation 72.3 Choice of Organizational Form 72.4 Funding a Foundation 72.6 Foundations and Planned Giving 7(b) Charitable Remainder Trusts 7(d) Interrelationships with Private Foundation Rules 82.7 Acquiring Recognition of Tax-Exempt Status 8(a) Form 1023 8(b) 27-Month Rule 9(c) IRS Determination Letters Recognizing Exempt Status 9(d) Administrative Procedures When Recognition Denied 9(e) Declaratory Judgment Procedures When Recognition Denied 10(f) Recognition of Foreign Organizations 103 Types of Private Foundations 113.1 Private Operating Foundations 11(d) Income Test 11(h) Conversion to or from Private Operating Foundation Status 113.2 Exempt Operating Foundations 123.3 Conduit Foundations 133.6 Nonexempt Charitable Trusts 143.7 Split-Interest Trusts 153.8 Foreign Private Foundations 16(a) Gross Investment Income Tax 16(b) Withholding Tax 17(c) 85 Percent Support Test 18(d) Return Filing Obligations 19(e) Establishing Public Charity Status 19(f) Loss of Exemption (Prohibited Transactions) 204 Disqualified Persons 214.5 Corporations or Partnerships 214.8 Governmental Officials 214.9 Termination of Disqualified Person Status 215 Self-Dealing 235.4 Sale, Exchange, Lease, or Furnishing of Property 23(e) Furnishing of Goods, Services, or Facilities 23(g) Coinvestments 245.5 Loans and Other Extensions of Credit 245.6 Payment of Compensation 24(e) Excess Executive Compensation Tax 24(i) Reporting of Compensation 255.8 Uses of Income or Assets by Disqualified Persons 25(c) Payment of Charitable Pledges 25(e) Incidental or Tenuous Benefits 265.9 Sharing Space, People, and Expenses 26(b) Office Space and Personnel 265.10 Payments to Governmental Officials 265.11 Indirect Self-Dealing 27(b) Concept of Control 275.12 Estate Administration Exception 27(a) Concept of the Expectancy 27(b) Estate Administration Exception— General Rules 275.14 Additional Exceptions 28(b) Transitional Rules (Savings Provisions) 286 Mandatory Distributions 296.1 Mandatory Distribution Requirement 29(a) Purpose and Policy 296.2 Minimum Investment Return 29(d) Exempt Function Assets 296.3 Determining Fair Market Value 30(c) Other Assets 306.4 Qualifying Distributions 30(a) General Definitions and Rules 30(b) Charitable Grants in General 31(c) Grants to Controlled Organizations and Other Foundations 31(d) Grantor Reliance Standards 31(f) Direct Charitable Expenditures 32(g) Set-Asides 326.5 Excise Taxes on Failure to Distribute Income 35(b) Ordering Rule for Qualifying Distributions 35(e) Valuation Mistakes 357 Excess Business Holdings 377.1 Overview 377.2 Definitions and Limitations on Business Holdings 38(a) Definition of Business Enterprise 38(b) Passive Income Businesses 40(c) Percentage Limitations 43(d) Permitted and Excess Holdings 48(e) Constructive Ownership 48(f) Disposition Periods 53(g) History of Excess Business Holdings Rules 557.3 Functionally Related Businesses 568 Jeopardizing Investments 578.1 General Rules 57(b) Contributed Assets 578.2 Prudent Investments 57(g) Mission-Related Investments 578.3 Program-Related Investments 589 Taxable Expenditures 619.2 Political Campaign Activities 61(c) Voter Registration Drives 619.3 Grants to Individuals 62(b) Individual Grants for Charitable or Other Permitted Purposes 62(d) Individual Grants for Travel, Study, or Other Similar Purposes 62(f) IRS Approval of Grant Procedures 64(g) Individual Grant Intermediaries and Earmarking 699.4 Grants to Public Charities 69(a) Types of Public Charity Grantees 69(b) Grantor Reliance Standards 69(c) Intermediary and Secondary Grantees 709.5 Grants to Exempt Operating Foundations 709.6 Grants to Foreign Organizations 70(b) Good Faith (Equivalency) Determinations 709.7 Expenditure Responsibility 70(c) Grant Terms 709.8 Spending for Noncharitable Purposes 7010 Tax on Investment Income 7110.1 Rate of Tax 7110.4 Calculating Taxable Net Investment Income 71(b) Capital Gains and Losses 71(h) Partnership and S Corporation Income 7110.5 Reductions to Gross Investment Income 72(a) Deductions Allowed 72(b) Deductions Not Allowed 7210.6 Foreign Private Foundations 7210.7 Exemption from Tax on Investment Income 7211 Unrelated Business Activity 7311.1 General Rules 73(e) Real Estate Activities 7311.2 Exceptions 7411.3 Rules Specifically Applicable to Private Foundations 75(a) Direct Conduct of Unrelated Activities 75(b) Ownership Interests in Unrelated Businesses 76(c) Partnerships and S Corporations 77(c-1) Specified Payments from Controlled Entities 77(e) Provision of Technical Assistance 7811.4 Unrelated Debt-Financed Income Rules 78(a) Acquisition Indebtedness 7811.5 Calculating and Reporting the Tax 78(b) Bucketing Rule 78(d) Tax Computation and Reporting Rules 7912 Tax Reporting and Administrative Issues 8112.1 Form 990-PF 81(a) Annual Form 990-PF Filing Requirement 81(c) Reporting Changes on Form 990-PF 82(d) Other Changes 8212.2 Form 990-PF Penalties 82(a) Daily Delinquency Penalty 82(c) Reasonable Cause 8312.3 Public Disclosure and Inspection of Returns and Applications 83(a) Disclosure Obligations of Private Foundations 83(c) IRS’s Disclosure Obligations 8412.4 Reporting and Payment of Excise Taxes 84(b) Additions to Tax and Penalties 84(d) Form 4720 Statute of Limitations 8512.5 Determination Letters and Letter Rulings 85(a) Form 8940 Miscellaneous Determination Requests 85(b) Letter Rulings 86(c) Reliance on Determinations and Rulings 8612.6 IRS Examinations of Private Foundations 87(a) Types of Examinations 87(b) General IRS EO Examination Practices and Procedures 8712.7 Revocation of Tax-Exempt Status 88(a) Automatic Revocation for Non-Filing 88(b) Retroactive Revocation 88(c) IRS Administrative Appeal Procedures 89(d) Contesting Revocation in Court 8913 Termination of Foundation Status 9113.1 Voluntary Termination 9113.3 Transfer of Assets to a Public Charity 91(a) General Rules 9113.4 Operation as a Public Charity 92(b) Initial Notice 92(c) Advance Ruling Requests 92(d) Final Notice 9313.5 Mergers, Split-Ups, and Transfers Between Foundations 98(b) Complete Asset Transfers to Controlled Foundations 9314 Charitable Giving Rules 9514.1 Concept of Gift 9514.2 Basic Rules 96(a) Percentage Limitations 9614.6 Special Gift Situations 96(g) Conservation Property 9615 Public Charities 9715.3 Public Institution Charities 97(b) Educational Institutions 9715.4 Donative Publicly Supported Charities 97(b) 2 Percent Limitation 9815.5 Service Provider Publicly Supported Charities 98(c) Unusual Grants 9815.6 Supporting Organizations 98(b) Operational Test 98(g) Operated in Connection with (Type III) 99(h) Contributions from Controlling Donors 107(j) Limitation on Control 108(n) Applications and Illustrations 109(o) Loss of Supporting Organization Status 11115.7 Change of Public Charity Category 112(b) From § 509(a)(3) to § 509(a)(1) or § 509(a)(2) 112(d) IRS Recognition of Change in Status 11215.8 Termination of Public Charity Status 11316 Donor-Advised Funds 11516.1 Basic Definitions 11616.7 Statutory Criteria 116(a) Definition of Donor-Advised Fund 116(b) Taxes on Taxable Distributions 125(c) Taxes on Prohibited Benefits 130(d) Application of Excess Benefit Rules 130(e) Application of Excess Business Holdings Rules 131(f) Limitations on Deductibility of Contributions 131(g) Reporting and Disclosure Requirements 13116.8 Studies 131(a) Treasury Study 131(b) Congressional Research Service Study 13116.9 Tax Regulations 132(a) The Ever-Pending Regulations Project 132(c) Comments on IRS Notice 13216.10 Proposed Legislation 13217 Company Foundations 13317.4 Private Benefit Doctrine 13317.5 Disqualified Persons Rules 13317.6 Self-Dealing Rules 134(a-1) Satisfying Company Charitable Commitments 134(c) Provision of Tangible Benefits 135(d) Grantmaking 135(e) Incidental and Tenuous Benefits 13917.7 Other Private Foundations Rules 141(b) Excess Business Holdings Rules 14117.8 Excess Executive Compensation Tax Exceptions 141(a) Limited Hours Exception 141(b) Nonexempt Funds Exception 141About the Authors 143About the Online Resources 145Appendix A: Sources of the Law 147Appendix B: Internal Revenue Code Sections 173Table of Cases 179Table of IRS Revenue Rulings, Revenue Procedures, and Notices 189Table of IRS Private Determinations Cited in Text 197Table of Other IRS Private Determinations 213Index 227