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Tax Exempt & Charitable Planning

If you own or invest in a tax exempt or charitable organization, effective asset protection will involve a thorough understanding of how tax laws function. In addition, the organization needs to be structured and managed in a certain way to qualify as tax exempt. If not, a single audit from the IRS can result in loss of assets through fines and other penalties.

Hart David Carson can help you with the structuring, tax planning, and other issues associated with setting up and running a tax exempt organization.

Taxes

The numerous laws and regulations in place on tax-exempt entities make it difficult to avoid numerous pitfalls. We can help you with the paperwork and legal processes involved, including filing IRS forms and obtaining recognition as tax exempt under Internal Revenue Code.

Once tax exempt status is granted, it is vital to maintain it through all your usual activities. Any breaches can be found in an audit, and those audits by the IRS have become more frequent in recent years. Therefore, it is vital to ensure that your operations, such as the way funds are handled and how the organization is governed, are in full compliance with IRS regulations. This means legal assistance is absolutely key to maintaining your charitable organization properly.

Organizational Considerations

The structure, governance, and operations of your non-profit need to be in full compliance with federal and state regulations. Hart David Carson can help you with a wide variety of organizational considerations, including:

  • Governance planning and structuring
  • Recordkeeping and reporting practices
  • Corporate structuring (LLC, trust, etc.)
  • Structuring programs and projects
  • Structuring policies
  • Drafting agreements, such as non-disclosure and confidentiality agreements
  • Handling conflicts of interests
  • Dispute resolution

Not only do these need to be set up in a way that is fully compliant with the law, they also need to allow the organization to function effectively. We can help you achieve this balance in your charitable organization, from drafting agreements to developing the overall governance and organizational structuring needed to facilitate your operations.

The type of organization you form also plays a role in how organizational and financial matters are to be handled. Your tax-exempt organization might follow one of these structures:

  • Public charities
  • Private operating foundations
  • Employer sponsored charities
  • Private foundations
  • Type I, Type II, and Type III supporting organizations
  • Foundations
  • Social welfare entities
  • Health care entities

Again, knowing how to manage these in a way that is in full compliance with federal and state law is key to successful operation. Hart David Carson can help you with the many issues that arise during formation, management, and funding of your tax exempt organization.

Getting Legal Assistance

Our attorneys are fully capable of handling the multitude of legal issues that tax exempt and charitable organizations face daily. Among these are the following:

  • Organizational and formation considerations
  • Reorganization
  • Joint ventures
  • Fundraising and charitable contributions
  • Federal tax issues
  • State tax issues
  • Tax exempt bonds
  • Representation and dispute resolution

Our charitable planning attorneys will help you through the process of forming, running, funding, and investing in a tax exempt organization. For assistance protecting your charitable assets, contact Hart David Carson today.

Client Reviews
★★★★★
We have been working closely with HDC for about 4 years now, we trust them for our own legal work and for all of our clients. They have proven themselves to be dependable and hardworking. They have yet to let us down in any capacity. We are looking forward to growing this relationship for us and our clients. Azmi S. (Elmhurst, IL)
★★★★★
I have known the people and Hart David Carson for quite some time now and I can say, with a particularly high degree of confidence, that they are some of the most professional, courteous, and competent lawyers I have ever had the privilege to know. They are attentive, knowledgeable, and really take the time to provide a very personal experience. I would highly recommend anyone to avail themselves of their truly amazing legal services!! Brian N. (Chicago, IL)
★★★★★
These attorneys are the best! They are professional and driven individuals that are passionate about what they do. They listened and worked with me from beginning to end. I strongly encourage using them! You will not be disappointed! Shannon D. (Arlington Heights, IL)