Sharing Expenses With a Private Foundation—The Right Way
Author: Laura H. Peebles, CPA/PFS.
Source: Volume 04, Number 06, September/October 2005 , pp.3-4(2)
< previous article |next article > |return to table of contents
Abstract:
It is almost inevitable for family members to enter into arrangements whereby they will share expenses with their family foundation. After all, one’s common sense might suggest that this is not going to lead to trouble if all parties simply bear their own rightful share of amounts paid for shared goods and services. Unfortunately, it’s not that simple, and expense sharing must be handled carefully lest the parties inadvertently violate the prohibition on self-dealing.Keywords:
Affiliations:
1: Deloitte Tax LLP.