If you want a charitable deduction for a gift of property to a charity, you must avoid imposing restrictions upon the charitable donee
IRC §170(a) allows a deduction for any charitable contribution made during the taxable year. IRC §170(c) defines a charitable contribution to include a contribution or a gift to or for the use of qualified entities. A contribution is not deductible unless it constitutes a completed… Read More
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TaxThe Soda Tax in Court
This guest post was authored by Brandon Matsnev, a summer associate with Montgomery McCracken. The Philadelphia Beverage Tax, commonly referred to as the “Soda Tax,” has unleashed vigorous political debate. The legislation, implemented January 1, 2017, taxes soda distributors 1.5 cents per ounce of soda sold… Read More
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TaxInter Partes Review Challenged at the Supreme Court
The old adage in patent law has always been that “patents are presumed valid.” This gives patent owners and industry confidence as to the ownership of technology. However, in recent years, the prevalence of inter partes reviews (IPR) has put the adage in doubt. The… Read More
Will Your Company’s Next Big Investor be Your Favorite Athlete or Sports Franchise?
As cleanup crews sweep up the final remnants of the NFL Draft, the Phillies show potential for a successful season and the NBA and NHL playoffs in full-swing, many people currently have sports on their mind – but what does this have to do with… Read More
Checklist of Tax and Non-Tax Considerations for Someone on His/Her Deathbed
I am often asked by family members of a loved one who is on his/her death bed what steps should be taken from an estate planning, tax and non-tax perspective that will make the individual more comfortable, save taxes, preserve assets and make settling the… Read More
Branch Transactions – New Aggregation Election
Do you have a business that has a branch in a foreign country? If so, new regulations will dictate how you determine your taxable income. Many businesses have a branch in a foreign country. This may include conducting business in the foreign country through an… Read More
Legal Considerations for Companies Developing Web Enabled Devices
This post was co-written by Montgomery McCracken associates Benjamin E. Fuller and Ernest D. Holtzheimer. As the Internet of Things (“IoT”) continues to revolutionize the world through web enabled devices, from smart refrigerators to smart defibrillators, the companies engineering these devices need to be aware of… Read More
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TechnologyGame On
One of the most sought after toys of the 2016 holiday season was Nintendo’s NES Classic Edition. Retailing for $59.99, the NES Classic Edition allows you to play 30 classic late 1980s – early 1990s games originally released on the Nintendo Entertainment system, such as… Read More
Making Living Wills More Clear with a QR Code Link to a Video Personal Statement
They go by many names, living wills, advance directives for healthcare, healthcare powers of attorney and healthcare proxies. I usually call them advance directives for healthcare (and will use that term in this article) because I think that covers all the issues they address. There… Read More
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Trusts and Estates2017 New Year Business Succession Resolutions
How are your New Year’s resolutions coming along? If you own a business and one of your resolutions was to review your will and other estate planning documents, failure to keep this resolution can have a much more negative impact than not losing the ten… Read More
