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The Legal Answer Book for Private Foundations,Used
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A musthave guide that enables managers and trustees of private foundations, as well as their lawyers and accountants, to successfully navigate today's increasingly complex tax laws and reporting requirementsPrivate foundations are the most regulated of nonprofit organizations. Burdened with laws written over thirty years ago, which have become more complex and intricate, private foundations are forced to operate in a harsh legal environment. An operational or reporting mistake, no matter how innocent or inadvertent, can lead to immense tax and other penalties.To reap the charitable, tax, and other economic advantages of private foundations while avoiding the perils lurking in the myriad of taxlaw traps, you must be fully informed about the basic legal requirements and the many subtleties and current developments affecting private foundations.Written by two of today's leading authorities on the laws regulating private foundations, The Legal Answer Book for Private Foundations provides this critical information in an efficient and comprehensible fashion. In clear, easytounderstand language, the authors provide expert guidance on everything from how to set up a private foundation to how assets are invested, how funds are distributed to grantees, and how to avoid selfdealing.You'll find answers to such critical questions as:* What are the legal definitions of private foundation and public charity, and what constitutes a disqualified person?* Just what are the private foundation rules and what are the penalties for violating them?* What assets are involved in the calculations of the mandatory payout requirement?* How are selfdealing rules avoided?* What is an excess business holding?* Do foundations have to file annual returns with the IRS?* What are the alternatives to private foundations?With the increasing opportunities for the establishment of private foundations, The Legal Answer Book for Private Foundations is an invaluable resource that is mandatory reading for anyone contemplating creation of a foundation or managing or advising an existing foundation.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.