Gil Favor wrote:

....snipped and original attributions were already gone...

- quote -

Reckon????

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Vic Dura wrote:

- quote -

Distributing the money in the year it is donated does not
disqualify the contribution. If the money goes to a
qualified charity it qualifies as a charitable contribution.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vic Dura" <vpdura[at]CLUTTERhiwaay.net> wrote:

- quote -

http://biz.yahoo.com/ap/060626/buffe...nce.html?.v=15
- quote -

I imagine Buffet has some highly qualified tax experts, and
is does not feel the need to rely on internet use groups to
figure out his strategy.

However, as noted by Stuart, there should be no problem.
Many, many charitable donations are given with conditions,
such as to endow a specific chair at Harvard for a specific
purpose (perhaps you know the rest of this story . . .)


<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Vic Dura <vpdura[at]CLUTTERhiwaay.net> wrote:

- quote -

There is generally nothing wrong with restrictions on charitable
gifts, as long as it is still to be used for the organization's
charitable purpose.

Stu

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

According to news reports, Warren Buffett is planning to donate
about $1.36B per year to the Gates Foundation

http://biz.yahoo.com/ap/060626/buffe...nce.html?.v=15

Quoting from the above link:

The money from Buffett, 75, comes with a significant catch. The
letter says Buffett wants all his money to be distributed in
the year it is donated, not added to the foundation's assets
for future giving. The foundation gave away $1.36 billion in
2005, so the Buffett commitment would effectively double its
spending.

Question: Doesn't the condition as to when the money is
distributed constitute a restriction and preclude the donation
from being a charitable give? I thought that was the rule.
How does he get around it?

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >