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Sunday March 29, 2020

Advisor Resources
Advisor Resources

CARES Act - Checks to Individuals
Washington News
On March 27, 2020, the House and Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Under this massive bill, there will be $1,200 direct payments to individuals. Qualified dependents increase the payments to families by $500 per qualifying child. There are multiple rules on the direct payments to individuals. The payments by the IRS will generally be based upon your 2018 or 2019 income tax returns. Joint Return – A married couple will receive a payment of $2,400. Children – Each dependent child qualifies for a $500 amount. There are no limits to the number of dependent children. The definition of a dependent follows the IRS guideline that you must provide one half of the...
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Charitable Tax Reference
GiftLaw Pro
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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Deduction Calculator
Deduction Calculator
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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Case of the Week
Bill Russell grew up on the Great Plains. During his youth, he was a rodeo bull rider and gained fame as “Wild Bill” for his daring exploits. But Wild Bill was an artist at heart and soon...
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Private Letter Ruling
Trust files its federal income tax return on a calendar year basis. Trustee of Trust made a distribution from Trust within the first sixty-five days of Year 2. Trustee intended to make an election to...
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Article of the Month
Individuals choose to interact with charities in various ways. Some will volunteer their time, others their talents and still more prefer to donate cash or other assets. Many donors live on a fixed...
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