Tag: charitable giving
Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate.
Type of gift
One of … Read More »
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep in mind this year to … Read More »
Charitable giving is a key part of estate planning for many people. If you’re among them and own valuable works of art, they may be ideal candidates for charitable donations during your life.
Generally, it’s advantageous to donate appreciated property because, … Read More »
Families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust (CLT). These trusts are most effective in a low-interest-rate environment, so conditions for taking advantage of a CLT currently are favorable. … Read More »
If your estate plan includes charitable donations, be sure to discuss any planned gifts with the intended recipients before you finalize your plan. This is particularly important for donations that place restrictions on the charity’s use of the gift, as … Read More »
If you’re charitably inclined, making donations is probably one of your key year-end tax planning strategies. But if you typically give cash, you may want to consider another option that provides not just one but two tax benefits: Donating long-term … Read More »
Did you know that the estate of director John Hughes donated the family’s Illinois mansion to a nonprofit hospital? After allowing another charity to use the home for a fundraising event, the hospital sold the home and used the proceeds … Read More »
Estate Planning Briefs. Comments Off on Giving real estate to charity is rewarding, but beware of tax traps
Charitable giving through donor-advised funds (DAFs) has grown in popularity in recent years. Generally, creating a DAF requires no more than completing a short application and making an initial contribution as low as $10,000 to a sponsoring organization, such as … Read More »
Estate Planning Briefs. Comments Off on 3 benefits of donor-advised fund giving