Gift Planning Tips

Exceeding the $12,000/$24,000 Standard Deduction
It’s estimated that only about 5% of taxpayers will itemize their deductions starting in 2018 under The Tax Cuts and Jobs Act . . . more

Businesses of All Types Are Winners
The graduated rates applicable to C corporations prior to 2018 have been replaced by a flat 21% rate, but those aren’t the only businesses benefitting from The Tax Cuts and Jobs Act . . . more

Changes Affecting Charities and Charitable Giving
Although the charitable deduction remains intact — and even enhanced slightly with the deduction limit for cash gifts to public charities increasing from 50% to 60% of adjusted gross income — fewer taxpayers overall are expected to itemize in the coming years . . . more

Charity in Lieu of Alimony?
Beginning with divorce or separation agreements executed after 2018, alimony will no longer be deductible by the paying spouse and recognized as income by the receiving spouse . . . more


Be sure to check this site each month for new Gift Planning Tips. If you would like to receive our Gift Planning Tips by e-mail each month, please click here.


To download a PDF of the latest gift planning articles from CGTS Analysis & Comment, click here.

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.

IRS EXTENDS ANNUITY TRUSTS A LIFELINE
Inclusion of sample language avoids 5% probability test.

COURT DENIES DISTRIBUTIONS OF PRINCIPAL
Trust terms don’t provide for invasion of corpus due to financial need.

CHARITY GIVEN GREATER INVESTMENT OPTIONS
Restrictions resulted in minimal return, hampering decedent’s intent.

FAMILY’S ACTIONS, NOT BUSINESS CLIMATE, CAUSE DROP IN VALUE
Stock exchanged for promissory notes at discounted amount.

COURT REJECTS ATTEMPT TO “SWAP” BEQUESTS
Spouse stuck with IRA and income in respect of a decedent.

NO RELIANCE, NO PLEDGE
Charity’s claim against estate denied.

TAX ON IRD OFFSET BY DEDUCTION
Trust will receive cash from testator’s IRAs.

ORGANIZATION CHANGES USE OF CONTRIBUTED FUNDS
Donors want funds returned if not used as promised.

CHARITY CAN SUE ATTORNEY FOR ERROR IN WILL
Organization was intended beneficiary of instrument.


December 2017 Archive
• April 15: It's Not the Only Tax Deadline to Remember
• If Itemized Deductions Are Cut Back
• Using Closely Held Stock in Charitable Lead Trusts
• Encouraging Younger Family Members to Save

November 2017 Archive
• Change–Your-Mind Options for Charitable Remainder Trusts
• When Does a Term–of–Years Trust Make Sense?
• Accelerating the Remainderman’s Benefit
• Year–End Charitable Gift Planning

October 2017 Archive
• So Many Choices
• Best Candidates for Qualified Charitable Distributions
• Minimizing Taxes from Like-Kind Exchanges
• Income Tax Considerations in Charitable Bequests

September 2017 Archive
• Plan Ahead for Avoiding Tax on Group Term Life Insurance
• Taking the Pledge
• Advancing Lead Trust Payments
• Charitable Gifts That Avoid Year-End Cash Crunch Problems

August 2017 Archive
• Still Going Strong after Five Decades
• Let’s Make a Deal
• S Corporation Shares and Charity
• Special Handling Required

July 2017 Archive
• When Clients Want to Give "Things"
• Combining Marital, Charitable Deductions for Estate Tax Savings
• Coping with a Client’s Spendthrift Children
• Planning for the S-L-O-W Rise in §7520 Rates


Copyright © R&R Newkirk. All rights reserved.

The information contained on this website is written to provide accurate and authoritative information in regard to the subject matters covered. It is published by R&R Newkirk Company with the understanding that in this publication the authors are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. (From a Declaration of Principles jointly adopted by a committee of the American Bar Association and a committee of publishers and associations. Circular 230 Notice: Any U.S. federal tax advice contained in this publication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Location

200 West Fourth St.
Cincinnati, OH 45202
Directions

Contact

513-241-2880
Email Us