Tax Benefits for Charitable Giving: Popular Best Practices and Techniques

Fully understand the rules and guidelines you should know when donating to a charitable organization.

This presentation will share the basic tax benefits for charitable giving, highlighting popular best practices and techniques that are important for clients with charitable intent as well as nonprofit organization clients. Implications for income, capital gains, and gift/estate tax will be explained, including a review of the applicable IRS tax forms and publications. The difference between tax benefits for gifts to public charities and private foundations will be highlighted. Tax benefits and best practices for gifts of cash, qualified charitable distributions, long and short-term capital gain property, ordinary income property, and tangible personal property will be reviewed in detailed. The application of the tax rules to charitable bargain sales will be explained. The tax benefits and best practices for life income plans such as charitable gift annuities and charitable remainder trusts will be reviewed. The tax benefits and techniques of other planned gifts will include beneficiary of retirement plans, owner and/or beneficiary of life insurance, charitable lead trusts, remainder interests in personal residences and farms, conservation easements and donor-advised funds.

Faculty

Philip M. Purcell, Esq

Consultant for Philanthropy, LLC