Contribute Wisely

The IRS is targeting taxpayers who are not contributing wisely in order to inflate their charitable deduction.  The transactions deal with transactions involving contributions of a successor member interest in a limited liability company.

The transactions involving contributions of a successor member interest are utilized by persons to claim charitable contributions that may be excessive.  These transactions arise when a taxpayer acquires a successor member interest, directly or indirectly, in real property, transfers the interest to a tax-exempt organization, and claims a charitable contribution deduction that is significantly higher than the amount that the taxpayer paid for the interest.  See IRS Notice 2007-73.

Be conservative on your charitable contributions, and don't play games with transferring to other entities.  We can help guide you.