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Category Archives: Charitable Giving

Charity

Have you properly substantiated your 2018 charitable gifts?

By Legacy Protection, LLP |

Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about. The benefit of making such gifts during life rather than at death is that you may be eligible for an… Read More »

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20180906

Is a significant portion of your wealth concentrated in a single stock?

By Legacy Protection, LLP |

Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the next generation. One of the best ways to reduce your investment risk is to diversify your holdings. But it’s not unusual for affluent people to end up… Read More »

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20180719_1

Double duty giving with charitable gift annuities

By Legacy Protection, LLP |

If you’re charitably inclined, you may wish to consider a charitable gift annuity. It can combine the benefits of an immediate income tax deduction and a lifetime income stream. Furthermore, it allows you to support a favorite charity and reduce the size of your future taxable estate. What is it? A charitable gift annuity… Read More »

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20180517

If charitable giving is part of your estate plan, consider a donor-advised fund

By Legacy Protection, LLP |

Do you make sizable gifts to charitable causes? If you’re fortunate enough to afford it, you can realize personal rewards from your generosity and may be able to claim a deduction on your tax return. But once you turn over the money or assets, you generally have no further say on how they’re used…. Read More »

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charity

Follow IRS rules to ensure you receive your charitable tax deductions

By Legacy Protection, LLP |

If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition, by making donations during your lifetime, rather than at death, you can claim income tax deductions. But some of your charitable deductions could be denied if you… Read More »

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20170914

Charitable giving pièce de résistance: Artwork donations

By Legacy Protection, LLP |

Charitable giving is a key part of estate planning for many people. If you’re among them and own valuable works of art, they may be ideal candidates for charitable donations during your life. Generally, it’s advantageous to donate appreciated property because, in addition to gaining a valuable tax deduction, you can avoid capital gains… Read More »

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Ensure your year-end donations will be deductible on your 2016 return

By Legacy Protection, LLP |

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. To ensure your donations will be deductible on your 2016 return, you must make them by year end to qualified charities…. Read More »

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Charity

Should you make a “charitable IRA rollover” in 2016?

By Legacy Protection, LLP |

Last year a break valued by many charitably inclined retirees was made permanent: the charitable IRA rollover. If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. Satisfy your RMD A charitable IRA… Read More »

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