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Archive for 2006

Get Green for Going Green

Published: December 1st, 2006

By: Brad Gould

At the end of the year, many people try to get a deal on older (2006) car models. In addition to possibly landing a fantastic price, there is an incentive from the federal government for you to go green, that is, buy a hybrid vehicle. The Energy Policy Act of 2005 established a nonrefundable credit […]

Charitable Conservation Easements

Published: November 20th, 2006

By: Brad Gould

The Pension Protection Act of 2006 (the “PPA”) was recently enacted primarily to address issues involving pensions and deferred compensation but it also contains provisions concerning charitable deductions, including modifications to charitable deductions allowed for qualified conservation contributions. There are several tax benefits for charitable conservation easements, including a current income tax deduction for the […]

Tax Free Distributions From IRAs To Charities

Published: November 10th, 2006

By: David J. Akins

The Pension Protection Act of 2006 contains a provision that allows certain owners of traditional IRAs and Roth IRAs to exclude “qualified charitable distributions” of up to $100,000 a year from their gross income. In order for the be a “qualified charitable distribution,” the distribution must be (i) made on or after the date on […]

Citrus Canker Eradication Program

Published: October 17th, 2006

Status of Funding On October 5th, the federal government released another $100 million to fund claims resulting from the Citrus Canker Eradication Program. (This brings the total compensation to $636 million.) While this latest round of funding is expected by many to be the last funding for the program, we are hopeful it will exhaust […]

CHARITABLE CONSERVATION EASEMENTS

Published: October 5th, 2006

By: Brad Gould

The Pension Protection Act of 2006, Pub. L. No. 109-280 (the “PPA”) was enacted on August 17, 2006. Although the primary scope of the PPA is to address issues involving pensions and deferred compensation, the PPA also contains provisions concerning charitable deductions. The modification to charitable deductions allowed for qualified conservation contributions is the subject […]

Tax Free Distributions From IRAs to Charities

Published: October 5th, 2006

By: David J. Akins

Overview The Pension Protection Act of 2006 contains a provision that allows certain owners of traditional IRAs and Roth IRAs to exclude “qualified charitable distributions” of up to $100,000 a year from their gross income. In order for the be a “qualified charitable distribution,” the distribution must be (i) made on or after the date […]

CITRUS CANKER AND CONDEMNATION STATUTE OF LIMITATIONS

Published: October 5th, 2006

By: Mark R. Leavitt

The Florida Constitution prohibits the taking of private property for a public use without the payment of full compensation. When citrus trees are destroyed by the Department of Agriculture of other governmental entity, the trees are being removed to help protect the rest of the State’s citrus industry; therefore, the removal of the trees is […]

The Federal Income Tax Consequences of the Receipt of Compensation for the Removal of Commercial Citrus Trees

Published: September 5th, 2006

By Michael D. Minton, Esq.and Christopher R. D’Amico, Esq. In 1995, the U.S. Department of Agriculture (“USDA”) established a program intended to assist in the eradication of citrus canker in the State of Florida under which eligible owners of commercial citrus groves could, subject to the availability of funds, receive compensation for the removal of […]