This ondemand webinar will cover the steps needed to complete a charitable bargain sale and keep you or your client's foundation compliant.
Bargain sales represent an important technique for philanthropic support for charitable organizations. However, many clients who are charitable organizations and/or donors to charitable organizations do not understand the rules governing charitable bargain sales. They also do not understand how to successfully complete a bargain sale gift. This ondemand webinar will define and explain the benefits of charitable bargain sales, providing many specific examples. The ondemand also shares the important steps to successfully complete a charitable bargain sale. Failing to accurately complete a bargain sale may disqualify the potential tax benefits for clients. This ondemand webinar is critical for advisors and charitable organizations to understand the important uses and requirements to complete bargain sale transactions.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Definition and Benefits of Charitable Bargain Sale
- Definition of Bargain Sale
- Tax Code Requirements
- Situations When Attractive for Charitable Organizations
- Income Tax Benefit
- Capital Gains Tax Benefit
How to Complete a Charitable Bargain Sale
- Due Diligence
- Marketability of Asset
- Liability Concerns
- Valuation
- Appraisal Rules
- IRS 8283 Form
- Completion
- Contract to Document Terms and Donative Intent
- Deed of Transfer
Special Considerations
- Debt-Encumbered Property
- Like-Kind Bargain Exchanges
- Installment Bargain Sales
- Bargain Sales and Split Interest Gift Techniques: Charitable Gift Annuities, Charitable Remainder Trusts, Pooled Income Funds, Charitable Lead Trusts
- Unrelated Business Income Tax
- Specific Bargain Sale Transactions
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 31, 2015.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Philip M. Purcell, Esq
Consultant for Philanthropy, LLC
- Territorial Director of Planned Giving, The Salvation Army Central Territory
- Adjunct faculty, Indiana University Lilly School of Philanthropy and Maurer School of Law
- Consultant for publicly supported charitable organizations and private foundations within the U.S. and internationally
- Frequent speaker at local, regional, and national conferences
- Member of the IRS Tax Exempt Organization Advisory Council (Midwest region) and the American and Indiana State Bar Associations
- President-elect of the American Council on Gift Annuities and past director of the National Association of Charitable Gift Planners
- Can be contacted at [email protected] or 765-730-4321
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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