Charitable reverse split dollar and charitable split dollar

Article Abstract:

The author describes tax planning vehicles using split dollar life insurance which are the subject of congressional bills. The bills would deny the tax benefits of their use, including tax deductions and gift tax exclusions. The author believes that, regardless of the bills' passage, four conditions would have to be met for charitable split dollar arrangements to successfully survive IRS scrutiny.

Charitable contributions, Charitable donations, Split-dollar life insurance, Split dollar life insurance

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The new family-owned business deduction: helping executors solve the liquidity problem

Article Abstract:

The authors discuss tax planning issues concerning the qualified family-owned business deduction in IRC section 2057 which was enacted to replace the section 2033A exclusion by the IRS Restructuring and Reform Act of 1998. Qualification for the valuable deduction is difficult and administration may be burdensome.

Small Business, Estate tax, Estate taxes, Family-owned business enterprises, Family-owned businesses

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Recent law changes still leave restrictions on home office deduction

Article Abstract:

The authors discuss changes in tax regulations regarding deductions for home offices under IRC section 280A.

Home offices

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