When you are planning your estate, you have a lot to think about, and your family will invariably come first. This being stated, charitable giving can be quite meaningful on a personal level when you support causes and/or institutions that are doing good things for others. When you work charitable giving into your estate plan, you will always be remembered for your benevolent nature, and this is a powerful legacy. Estate Tax and Gift Tax Considerations In addition to the emotional and … [Read more...] about Is Charitable Giving Part of Your Estate Plan?
donor advised funds
A new ruling addresses whether a donor advised fund may satisfy charitable pledges by the donor/advisor. It now may do so, as long as certain requirements are met. Read the article to learn more about how donor advised funds are a great tool for charitable giving. Donor Advised Funds: IRS Issues New Ruling … [Read more...] about Donor Advised Funds: IRS Issues New Ruling
Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. Would You Prefer a Charitable Deduction This Year? … [Read more...] about Would You Prefer a Charitable Deduction This Year?
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the … [Read more...] about No Charitable Deduction in 2018?