By borrowing against their appreciated assets, individuals are able to postpone realizing capital gains and defer paying taxes to a later date, or avoiding them altogether if the assets are held until death. While the effects of capital gains taxes on investment incentives are well studied,...

Executors of estates for decedents in 2010 could choose between an estate tax regime and a basis carry-over regime. For most executors, this created a tradeoff between a current estate tax payment and a future capital gains tax liability for beneficiaries who inherited assets with...

The majority of countries around the world provide tax incentives for business philanthropy. However, little is known about the responsiveness of businesses to this tax treatment. This paper expands on this scant literature by focusing on the Armenian tax system which provides incentives for...