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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A new line of business to considerTechnology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.
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Maximizing the higher education tax creditsA counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.