Corporate Advances Kill Individual Charitable Deduction

Larry Zavadil, founder and CEO of American Solutions For Business, may have gotten a raw deal from the IRS and the Tax Court on his 2005 charitable contributions and the Eighth Circuit is not cutting him any slack in its decision last week. There is a useful lesson to accountants in the decision. The lesson is that life is easier if you have everybody pay their own bills. It is really a variation of Reilly's Fourth Law of Tax Planning - "Execution isn't everything but it's a lot". More Month Than Money