Gift Planning Update

Contributions to Foreign Charities
Gifts to foreign charitable organizations are generally deductible for gift tax but not income tax purposes . . . more

IRS Explains Deductions for Credit Card Gifts
Charitable gifts by credit card have become a quick and easy way for donors to give (and build up frequent flier miles), particularly at the end of the year . . . more

Matching Gifts by Companies
Many companies will match the charitable gifts made by their employees. In some instances, the matching gift program involves contributions by the company’s customers . . . more

Donors Who Wish to Remain Anonymous
Some philanthropic clients prefer not to be recognized for their contributions, or to remain completely anonymous . . . more

Use It or Lose It Rule for Charitable Deductions
Donors sometimes ask whether the five-year carryover provision for charitable deductions that exceed the applicable ceilings (50% of AGI for cash gifts, 30% for long-term capital gain assets) means they have flexibility as to when they use their charitable contribution deductions . . . 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.

• Court Rejects Will Reformation Attempt
Testator’s intent, ten-year delay major stumbling blocks.

• Attempt to Divide and Conquer Rejected
Splitting trust and commuting half contrary to purpose of settlor’s trust.

• Income Beneficiaries Become Outright Recipients After 99 Year
Court applies cy pres doctrine where trust lacks remainder language.

• When the Dancing Stopped, So Did the Money
Endowment funds not available to pay bills of defunct organization.

• Trust Funds Remain Community Property
Court had jurisdiction to value survivorship interest in charitable remainder trust.

• Newspaper Gets Access to Records, But Without Donor Names
Foundation’s activities on behalf of state university subject to state’s open records rules.

• Outright Distribution, Trust, Resolve Ambiguity
As reformed, charity’s interest will qualify for estate tax deduction, IRS rules.

• Spreading Seeds Not Charitable
Class of potential beneficiaries not sufficiently large to benefit the community.

• Rebate Acknowledgment Found Deficient
Election to have funds go to charity is a contribution, but letter lacks date of transfers.

• Donor “Guesses” $29,000, Court Says Zero
No substantiation for cash or noncash gifts.

• Estate Escapes Tax on IRA
Trustee had power to allocate estate assets to foundation.

August Archive
Something in Return: Gifts Where Donors Receive Something Back 
Providing for Charity and a Family Member . . . in Privacy
Post-2010 Charitable Planning Where Federal Estate Tax Is Not a Concern
Will a Charity Turn Down Your Client’s Gift or Bequest?

July Archive
Should Clients Maximize Charitable Deductions in 2010? 
Mortgages Complicate Gifts of Real Estate

June Archive
State Death Taxes and Charitable QTIP Trusts 
IRS Report Sheds Light on Noncash Charitable Contributions
Tax Consequences When a Gift Is Returned
Tax Strategies for Philanthropic Families

May Archive
State Death Taxes Add to Estate Planning Complexity
Another Avenue to Estate Tax Deductions for Charitable Transfers

April Archive
Renewal of IRA Gift Provision for 2010 Expected
Gift Tax Liability for CRTs Created in 2010?
Another Gift Planning Tip for Clients Who Convert to Roth IRAs
IRS Winter 2010 Statistics of Income Dissects CRTs, CLTs and PIFs

March Archive
Charities Need to Cash Out Partial IRA Distributions
Bequests of Savings Bonds to Charitable Remainder Trusts
Charitable Gift Opportunities with Corporate Bonds
Should Clients Contribute Commercial Annuities?

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