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July 22, 2008

A Portrait of Art As a Tax Deduction

A Portrait of Art
As a Tax Deduction

By MIKE SPECTOR
July 22, 2008; Page D1
Jon and Mary Shirley used to give artwork by the likes of Jackson Pollock, Mark Rothko and Alberto Giacometti to the Seattle Art Museum. No longer. A federal crackdown on deductions for so-called fractional gifts of art has made donating too onerous for them.....

July 02, 2008

Stayin' Alive: How to Cheat The Estate Tax

TAX REPORT
By TOM HERMAN    

Stayin' Alive: How to Cheat The Estate Tax
July 2, 2008; Page D1
You still can't take it with you. But by timing your death, you can leave more of it to your heirs....

May 30, 2008

Death by Taxes: Seniors May Plan Their Demises to Maximize Their Bequests

Death by Taxes: Seniors May Plan
Their Demises to Maximize Their Bequests

By STEPHEN MOORE
May 30, 2008; Page W11
A few weeks ago, I gave a talk about tax policy to a group of elderly people at a ritzy country club in Jupiter Island, Fla. I reminded the audience that the estate tax is scheduled to fall from 45% today to zero in 2010, but then rise all the way up to 55% in 2011. I joked that what we have here is the "Throw Mama From the Train Tax." I even playfully surmised that by this time next year, when kids visit the nursing home they'll be pleading: "Come on, Grandma, hold on for just a few more months." But then in late 2010 it will be the opposite: Heirs will be disconnecting their parents or grandparents from life support or slipping arsenic in their Vodka Tonics....

March 04, 2008

IRS & Appraisals

 This is an interesting article from the Times (LA) about inflated donation appraisals and the IRS.

http://www.latimes.com/entertainment/news/arts/la-me-irs2mar02,1,6630967.story?t rack=rss&ctrack=1&cset=true

 

(HT Roseann Root-Hudson, ISA)