Word: deductability
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Henrietta Harrison, the professor of the popular core Historical Studies A-13, “China: Traditions and Transformations” responded to the issue by having a teaching fellow (TF) deduct participation points from students caught checking their e-mail in lecture...
...from donations to its gift account. Without transparency and clarity, they cannot adjust their spending plans and fundraising goals. The advantage of using gift accounts in the first place is that they offer both donors and student groups a substantial advantage over direct contributions. Gift accounts enable donors to deduct their donations from their taxes because the recipient of the donations is technically the University, not the groups themselves. Without these accounts, student groups would have to establish themselves as 501(c)(3) non-profit organizations, which is a difficult, time-consuming process that requires expensive annual audits. Moreover, gift...
...annual fund efforts,” Rapier said in an e-mail.A NOT-SO-TAXING DECISIONHarvard could see an uptick in donations through the end of the year as the result of a tax provision passed by Congress in the wake of Hurricane Katrina.The provision enables donors to deduct up to 100 percent of their adjusted gross income when they contribute to charities, rather than the usual 50 percent deduction.While many charities are aggressively marketing this provision to donors, Harvard has no such plans, Rapier wrote in an e-mail earlier this month.However, Rapier wrote that Harvard has included...
...Houses.Wherever possible, the College should replace individual Houses as the beneficiary of House trusts. The income from these trusts should then be distributed equally among HoCos as part of their annual funding package. In those cases where trusts cannot be alienated in this way, the College should either deduct the amount of the trust’s annual payout from the House’s annual funding or require the House to remit the trust’s payout to a central fund, for subsequent equal distribution among Houses.The Harvard campus has been cleverly divided into relatively small, manageable, contiguous...
...popularity of buyouts has received an added boost from the U.S. tax code, which permits investors to deduct the interest on their debts. That makes heavy borrowing attractive, since debtors can use IOUs as tax shelters and thus charge part of their cost to Uncle Sam. "Our tax laws clearly encourage this kind of activity," says Yale's Malkiel...