Gift Planning Update

Tips for Charitable Donors Who Can’t Use Deductions
Only about one-third of U.S. taxpayers itemize federal income tax deductions, meaning that the other two-thirds, when they make charitable contributions, generally receive no tax benefits . . . more

Donors Should Get Their Deductions in a Bunch
“Doubling up” (or tripling up) on charitable deductions by pre-paying future years’ annual contributions to one’s house of worship, college, hospital or other charities is a traditional strategy . . . more

Diverting Income to Charities May Reduce Multiple Taxes
For the last six years, qualified donors have been able to divert minimum required distributions from IRAs to charitable organizations (qualified charitable distributions). . . more

Deferring Income through Unitrusts and Gift Annuities
A “flip unitrust” can work well for clients who:  (1) want to make a gift today, obtain a tax deduction and receive lifetime income, but postpone most or all of the income until some future date (the year they retire, for example), and (2) want to make a gift and at the same time arrange for young grandchildren (or children) to receive payments when they start college . . . more

Converting Assets to Income with Good Tax Results
Clients can convert from investments taxed as ordinary income to payments that are tax free or taxed at lower rates (qualified dividends or long-term capital gains, for example) through charitable gift annuities and charitable remainder trusts . . . more

Latest Gift Planning Articles from CGTS Analysis & Comment

The following articles are now available from the latest edition of the Charitable Giving Tax Service Analysis & Comment. To see the complete text, just click on the above link. Archived articles, and the full 1200-page gift planning library are available at no charge if you register and sign in to CGTS-Online, using the link on this page.

A PLEDGE IS A PLEDGE, MAYBE
Charity claims decedent intentionally removed assets from estate.

FOUNDATION HAD STANDING TO SUE FOR BREACH OF CONTRACT
Court finds fund custodian had duty to intended beneficiary.

FAULTY POD DESIGNATION DOOMS BEQUEST
Charity’s negligence case against bank allowed to proceed.

TRUSTEES COULD REDIRECT UNDERFUNDED SCHOLARSHIP BEQUESTS
Donors’ charitable intentions met through cy pres, equitable deviation doctrines.

NO WAY AROUND LACK OF DONEE ACKNOWLEDGMENT
Form 990 not acceptable to substantiate charitable gift.

January Archive
New Pooled Income Funds Offer Best Deductions in 2012
S Corporation Stock Can Fit into a Charitable Lead Trust 
Increased Gift Tax Exemption and Charitable Gift Planning
Borrowing May Be Costly for Charitable Remainder Trusts  

December Archive
Gift Opportunities of Farmers and Ranchers
Remainder Interests in Cropland, Orchards and Pastures 
Agricultural Products in Charitable Remainder Trusts
Conservation Easements Offer Favorable Tax Incentives 

November Archive
Lifetime Income for Family Outcasts – in Privacy
Investing in a Commercial Annuity within a CRT:  A Closer Look 
Mortgaged Property and Charitable Remainder Trusts
What to Do with “Loss” Property? 

October Archive
Year-End Tax Planning and Charitable Giving
Trust Beneficiaries Have Unusual Gift Opportunity 
Term of Years Charitable Remainder Trusts Can Solve Problems
QRP from ESOP Good for CRT

September Archive
September 30 Deadline Approaching for IRA Cash-Outs by Charities
Converting U.S. Savings Bonds to Lifetime Income without Paying Tax 
Funding Charitable Remainder Trusts with Life Insurance

August Archive
Advantages of Making Contributions for Offspring
Donor Recognition and “Naming Opportunities” 
Shared Real Estate Ownership with Charitable Donee
Charitable Bequest Planning with U.S. Savings Bonds     

 

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