Federal Estate Tax

Pulpit Freed on Sunday vs. IRS on Tax-exempt Status

The Alliance Defending Freedom is pushing a project it calls “Pulpit Freedom Sunday.” The event has taken place every year since 2008. On October 7, which is designated “Pulpit Freedom Sunday”, pastors across the country are encouraged to “preach sermons that will talk about the candidates running for office” and then “make a specific recommendation.”… Read More

Tax Exemptions for Nonprofits: Income, Property or Both?

Exemptions from tax for non-profits: should an income exemption be enough? Non-profit organizations that meet IRS guidelines are exempt from paying income tax. The tax policy behind the exemption is that these types of organizations benefit the community and therefore reduce the burden on government. A similar policy is behind giving individuals a charitable deduction… Read More

Division of Estate Among the Children

Experience shows that the biggest liquidity problem is not paying estate and inheritance taxes – it is equalizing the inheritance among the family members. Business is very difficult, if not impossible, to divide equitably. Many business owners ignore this problem. They leave behind them a legacy of hard feelings and bitterness. Therefore, for the sake… Read More

The Bigger They Are . . . . . The Harder They Fall

The IRS has hit the estate of former Detroit Pistons owner, William Davidson, with a $2 Billion tax bill. Yes, that’s a “B”, not an “M” — $2 Billion. William Morse “Bill” Davidson, who died in March 2009 at age 86, was President, Chairman and CEO of Guardian Industries, one of the world’s largest manufacturers… Read More