Historic Tax Credits and Deconstruction Tax Deductions

Historic preservation and deconstruction go hand-in-hand. Our CEO Jessica I. Marschall, CPA, ISA AM, recently joined the Minnesota-based Rethos Board of Directors. With her background in tax and...

Estate Taxes and Appraisals — Helpful Tips

After the passing of a loved one, local, state, or federal courts often request an appraisal of the decedent’s property. The inheritors and executors often face a long list of required forms and filings, which can become overwhelming...

NONPROFIT ~ TAXPAYER ~ APPRAISER: Understanding Each Role

The three parties to an appraisal MUST remain independent to ensure accuracy and validity of the deconstruction tax donation. We recently experienced an issue where these lines were blurred, and the taxpayer could...

Tax Court Disallows a Charitable Donation on a Technicality

The US Tax Court has delivered yet another loss of a non-cash charitable contribution, this time due to a technicality. In the latest case, Albrecht v. Commissioner, TC Memo 2022-53, a well-meaning donor...

State Income Tax Rates and Charitable Deduction Limitations 2020

State Income Tax Rates and Charitable Deduction Limitations 2020...

Tax Deductions for Building Materials - the ins and outs of the process

The word deconstruction is popping up around the country as society seeks to increase environmentally and socially responsible building practices. Deconstruction is the dismantling of a structure...

Save the Environment and Your Tax Bill

Deconstruction is the careful “un-building” of a structure with the intent of salvaging as much as possible for reuse, repurposing, or recycling, and can take a bite out of landfill dumping. Besides the environmental rewards, taxpayers...

Donating Property to Charities - a savvy tax planning strategy

During the current COVID pandemic, many homeowners are initiating their own DIY home projects. They are also finding that gorgeous, high quality furnishings, fixtures, appliances and building materials...

Charitable Contributions as an Aggressive Tax Shelter

The correct method is to research comparable sales data from the market to arrive at a valuation for each material. The Cost Approach can be used only in rare cases where a very valuable material...

Responsible Renovation and Tax Planning - Environmental, Social, and Financial

2019 tax season is over, and it was a wild ride. Consistent among many of my individual clients was the potential for better tax planning and execution when it comes to making charitable...

Deconstruction Monetary Pledges: Deductible?

Clients often ask if they can deduct a monetary pledge to a nonprofit. Typically, these pledges occur when a nonprofit is involved in a residential or commercial deconstruction project. Careful tax consideration of pledges is necessary...

Noncash Donation Reporting Reminders

In our efforts to keep industry members and clients informed of IRS requirements for donation documentation, we are providing the following reminders, with regard to donation substantiation requirements From IRS Publication 526 Charitable Contributions...

Nonprofit Pledges and Their Tax Deductibility

The process of deconstruction is to carefully dismantle existing structures with the intent of salvaging and reusing materials and fixtures with remaining useful life. These services are an environmentally friendly alternative to...

IRS Form 8283: Noncash Charitable Contributions

Deconstruction is the process by which residential or sometimes commercial buildings are carefully dismantled with the goal of salvaging the building materials for reuse or resale. If the building owner...

Deconstruction and Personal Property Deductions: Following IRS Codifications and Relevant Case Law

At The Green Mission, we attempt to work closely, as colleagues, with other deconstruction and personal property appraisers, nonprofits...

Like-Kind Exchanges as a Waste-Diversion Tool

The Tax Cuts and Job Act (TCJA) implemented changes across the board on asset treatment within business taxation. A “like-kind exchange” or “1031” based on IRC Section 1031 precludes a taxpayer...

The Benefits of Waste Diversion for Commercial Property Owners

Are you a commercial property owner facing the daunting task of orchestrating a corporate clean-out or remodel? Are there perfectly reusable furnishings, appliances, desks, computers, cubicles...

The Tax Cuts and Job Act and the Effect on Charitable Giving

The Tax Policy Center: Urban Institute & Brookings Institute postulated that the Tax Cuts and Job Act (TCJA) enacted in 2017 and effectual in 2018 would “discourage charitable giving by reducing the number of...

Tax Incentives to Effect Waste Diversion

A critical component of our mission of increasing waste diversion at The Green Mission Inc. includes tax incentives for the donation of deconstructed materials and personal property. Our goal is to maximize the percentage of..

The “Related Use” Provision for Donees Receiving Charitable Contributions

The concept of “Related Use” continues to present an area of confusion, especially for nonprofits and relates directly to Tax Form 8282. Related-use is the stipulation that a nonprofit must..

The IRS Appraisal “Grouping” Requirement

It appears to be typical of any IRS codification or procedural direction, that the end result must be confusion. Obtaining clarification may involve hours of wait-time to speak to a real person or a head-first dive down the rabbit hole of reading scholarly articles..

Charitable Contribution Tax Deductions as an Environmental Initiative

The IRS permits individuals, pass-through entities and corporations to contribute non-monetary charitable contributions to 501(c)(3) nonprofit organizations and government entities..

Tax Incentives for Deconstruction and Personal Property Donations - Corporate Taxpayer

Not only are provisions in place for individuals to donate materials and personal property to qualified nonprofits and government agencies, but favorable..

Tax Incentives for Deconstruction and Personal Property Donations - Individual Taxpayer

Current tax law allows individuals to deduct the Fair Market Value of non-monetary charitable contributions. Materials salvaged from a building structure as well as personal..