March 20, 2008
Many Business Leaders Use Tax Loophole in Donating Stock Gifts
Many corporate executives who have donated company stock to their family foundations have earned bigger tax breaks by backdating their donations to correspond to peaks in the value of their shares or using inside information from their positions to donate their shares before significant price declines, according to a new study.
Those strategies — outlined this month in a report on such donations by David Yermack, a New York University professor of finance — allow
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