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Private Foundations: Understanding the Requirements and Tax Implications

Author/Moderator: Brian Yacker, JD/CPA and Lauren Haverlock, CPA
Publisher: AICPA
Availability: In Stock
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Private foundations are becoming a common way to fund and distribute wealth to organizations. However, there are pitfalls lurking for foundations not meeting the specific requirements of the Code that may result in disqualification, taxes, or penalties. This CPE course lays out processes for creating, operating, and funding private foundations to avoid these unintended consequences.

Topics Discussed:

  • Organization and operational requirements
  • Private operating foundations and termination of foundation status
  • Initial excise tax – Section 4940
  • Self-dealing – Section 4941
  • Failure to distribute – Section 4942
  • Excess business holdings – Section 4943
  • Jeopardizing investments – Section 4944
  • Taxable expenditures – Section 4945
  • Alternative investments
  • Tax Filing requirements and related forms

Learning Objectives:
When you complete this course, you will be able to:

  • Advise high wealth families and organizations desiring to establish a charitable giving program for family members
  • Guide private foundations in their operations to help them avoid unintended taxes and penalties
  • Identify appropriate tax forms and compliance requirements for the private foundation

Who Will Benefit?

  • CPAs, family office members, and accountants employed by and/or advising high wealth families

Prerequisite: Basic understanding of not-for-profit organizations

Advanced Preparation:  None

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Videocourse Details

NASBA Field of Study: Taxes
Level: Intermediate
Recommended CPE Credit: 5
Private Foundations: Understanding the Requirements and Tax Implications
Text , 2014
Product# 745192
Availability: In Stock
AICPA Member:$135.00
Your Price:$169.00
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