Tax Benefits For Charitable GiftsTax Benefits For Charitable Gifts
The federal government helps your clients be philanthropists with tax incentives that greatly reduce the out-of-pocket cost of charitable gifts and in many cases enable donors to contribute much more than they originally imagined. To assure clients' tax benefits, advisors need to know every jot and tittle. So here's a rundown of the major rules, together with the relevant Internal Revenue Code sections,
Conrad Teitell, principal, Cummings & Lockwood LLC, Stamford, Conn.
The federal government helps your clients be philanthropists with tax incentives that greatly reduce the out-of-pocket cost of charitable gifts and in many cases enable donors to contribute much more than they originally imagined.
To assure clients' tax benefits, advisors need to know every jot and tittle. So here's a rundown of the major rules, together with the relevant Internal Revenue Code sections, Treasury regulations, revenue rulings and court cases. Unless otherwise stated, it's assumed that an individual is making the gift to a public charity (for example, to a school, church, hospital, or community foundation) or a private operating foundation (for example, a mus...
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