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Live Webinar

90-minute live streaming program
  • February 23
  • 1:00 - 2:30 pm EST

Tax Treatment of Appreciated Property Donation

February 23

Gain a better understanding of how to handle the taxation of appreciated property gifted to a nonprofit.

The donation of appreciated property can significantly benefit donors and charities, but involves an entanglement of tax rules on donations. With the 2017 Tax Cut and Jobs Act limiting other deductions, charitable deductions gain greater importance as a tax reduction tool. This topic will cover charitable tax reduction planning strategies and working with the deduction limitations. Special concerns covered will include charitable remainder trusts, bargain sales, and the 170(m) exception to self-created intellectual property

Learning Objectives

- You will be able to review the general limits affecting appreciated property.

- You will be able to define pass-through entities.

- You will be able to discuss substantiation basics.

- You will be able to identify applicable penalties.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview
  • General Incentives for Donating Appreciated Property
  • Use of Charitable Remainder Trusts
General Limits Affecting Appreciated Property
  • 50% (60%) Charities
  • 30% Charities
  • Capital Gain Properties General Limit
    • 30% Limit
    • 20% Limit
  • Impact of 2017 Tax Cut and Jobs Act
    • Change in Limit
    • Change in Standard Deduction
  • Additional Appreciated Property Limits
    • Ordinary Income Reduction
    • Special Capital Gain Limits
    • Partial Limit Inventory/Depreciable Property
  • Section 1256 Mark to Market Rule
    • Zero Coupon Bonds
    • Options/Commodities Futures
  • Corporate Limitation
  • 5-Year Carry-Over Rule
Pass-Through Entities Appreciated Property
  • S Corporations
    • Basis Adjustment (1367(a)(2))
    • Timing of Deduction
  • Partnerships (Rev. Rul. 96-11)
Substantiation Basics
  • Estate/Gift Tax Returns
  • Income Tax Returns
    • Dollar Thresholds
Qualified Appraisal Requirements
  • Overview
  • Notice 2006-96
  • Appraiser's Perspective
  • Substantial Compliance Requirement
    • Elements of Substantial Compliance
    • Mohamed v. Commissioner
Examples and Issues
  • Stock
  • Real Estate
    • Bargain Sale Rule
    • Fractional Interests
  • Artwork, Jewelry and Collections
  • Intellectual Property
    • Copyrights
    • Patents
Applicable Penalties
Penalty Avoidance/Defenses
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 1.8 including Taxes 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.8 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     

Who should attend?

This live webinar is designed for accountants, CPAs, executive directors, officers, board members, controllers, CFOs, tax managers and bookkeepers.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Cameron L. Hess, Esq., CPA, MBT

Cameron L. Hess, Esq., CPA, MBT

Wagner Kirkman Blaine Klomparens & Youmans LLP

  • Partner with the Northern California law firm of Wagner Kirkman Blaine Klomparens & Youmans LLP
  • Practice focuses on real estate, business (including nonprofit) and tax representation, with an emphasis on property taxes, sales taxes and unitary income taxation
  • Previously managed KPMG's state and local tax practice
  • Past property tax columnist for Spidells California Taxletter
  • More than 28 years of experience
  • Chair of The RED Group, a CalCPA Sacramento Real Estate think tank, 1992 to 2012
  • Chair/past chair CalCPA Real Estate Conference (California conference and Sacramento Chapter Conference) 2002 to 2012
  • President, Rental Housing Association of Sacramento Valley
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399805
Published 2018
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