The July 2010 article “Charitable Planning” mischaracterized the effect of unrelated business taxable income (UBTI) received by a charitable remainder trust (CRT). For tax years beginning after Dec. 31, 2006, UBTI would not cause a CRT’s income from sources other than UBTI to become taxable. UBTI itself, however, is subject to a 100% excise tax.
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The technology assessment engagementAre you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.
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Maximizing the higher education tax creditsA counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.