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For Advisors
Sunday September 26, 2021
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Washington News
In a September 17 letter, the Internal Revenue Service explained how both individuals and businesses may receive additional benefits for charitable gifts this year. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 included four temporary tax benefits to encourage charitable gifts. These benefits include deductions for individuals who do not itemize, a 100% AGI limit for itemized charitable cash gifts by individuals, increased corporate charitable deductions and increased limits for businesses that donate food inventory.
1. Non-itemizer Taxpayers — Because the Tax Cuts and Jobs Act of 2017 dramatically increased the standard deduction, almost 90% of taxpayers do not itemize. At one time, taxpayers who...More |
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GiftLaw Pro
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...More |
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...View Presentation |
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Case of the Week
Several years ago, Martha and Frank built a very unique home on 45 acres of beautiful rolling hills and woods. Frank passed away three years ago, and Martha now solely owns the 45-acre parcel and...More |
Private Letter Ruling
Foundation is classified as a Sec. 509(a) private foundation. W and H, a married couple, are President and Secretary/Treasurer of Foundation, serve on its board of directors and are Foundation's only...More |
Article of the Month
A beneficiary designation form is a simple and accessible tool that allows donors to make testamentary charitable gifts and streamline the administration of their estates. A beneficiary designation is...More |
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