Gift Planning Tips

Borrowing to Give
A taxpayer wants to make a significant gift to charity before year’s end, but won’t have the funds to do so until early next year . . . more

First the Gift, Then the Liquidation
Owners of closely held companies that are about to be liquidated have an opportunity to make a gift to charity and reduce capital gains tax, but the timing is critical . . . more

Time to Check Withholding, While There’s Still Time to Adjust
As nice as it is to receive a large income tax refund after filing a return, it’s not a financially smart thing to do . . . more

Remainder Trusts, Lead Trusts and Life Expectancies
In calculating the charitable deduction for charitable remainder trusts, lead trusts and charitable gift annuities, the age of the noncharitable beneficiary is a key component . . . more

 

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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 RESOLVES DUELING WILL PROVISIONS
Testator couldn’t have intended to give personal property both outright and in trust.

SUCCESSOR ORGANIZATION NOT ENTITLED TO DISTRIBUTIONS
Charitable purposes not the same as that intended by testator.

WHAT’S IN A NAME? NOT $5.5 MILLION
Court voids agreement it finds grossly unfair.

TAX COURT IN GENEROUS MOOD WITH CHARITABLE DEDUCTION
Donors made anonymous cash gifts to their church.

NO SELF-DEALING IN CORRECTING SCRIVENER’S ERROR
Grantors hadn’t intended to create net-income with make up unitrust.

LEAD TRUSTS AND PLEDGES NOT SELF-DEALING
Disqualified persons not personally obligated.

DISQUALIFIED PERSON’S BENEFITS MERELY INCIDENTAL
Storage of artwork on loan won’t be self-dealing, IRS rules.


September 2014 Archive
• Landing a Deduction for Business
• Comparison Shop with Stock Gifts
• Charitable Ideas for Gen Xers
• Dances and Auctions and Golfing . . . Oh My!

August 2014 Archive
• Charitable Giving: It’s Good for Business
• Two Provisions for Every Will or Trust
• An Alternative to Dormitory Life
• Don’t Need Life Insurance for Taxes? Give Policies to Charity

July 2014 Archive
• Spring Statistics of Income Bulletin Shows Upswing in Noncash Contributions
• Gifts of Corporate Stocks Averaged $142,409
• Fate of IRA Gift Legislation Awaits Lame Duck Session
• Hedging One’s Bets on the Longevity of a Bull Market

June 2014 Archive
• Charitable Gift Opportunities with Living Trusts
• Power of Attorney for Philanthropy
• Charity as the “Ultimate Contingent Beneficiary” of an Estate
• Charitable Bequests of Tchotchkes and Knickknacks

May 2014 Archive
• Solving the “Pre-Arranged Sale” Puzzle
• New Survey on Charitable Gift Annuities
• Should Clients Ever Leave a Roth IRA to Charity?
• Three Gifts Most Charities Won’t Accept

April 2014 Archive
• Tax Reform Proposal Would Shrink Tax Rewards of Giving
• Tax Result of Satisfying a Decedent’s Charitable Pledge
• “Scrivener’s Errors” Can Cover a Multitude of Sins
• CRT Trustee Can Divert Some Trust Payments to Charities