Charitable Planning

Understanding Charitable Giving Laws

When it comes to donating, many people seek not only the personal satisfaction of helping others but also the potential financial benefits, including possible tax deductions. Words such as deduction, charitable giving, charitable contribution, charity, charitable tax deduction and rules for giving often come up in these discussions. Understanding these terms and the laws surrounding charitable donations can help individuals and businesses make informed decisions about their charitable contributions, while taking advantage of any available tax deductions. In this article, we delve deep into charitable giving laws, exploring various facets and rules that govern tax deductions for charitable contributions. Whether…

December 26, 2023

Advanced Directives

Do You Pay Taxes on Gifts From Parents?

In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.

July 10, 2023

Advanced Directives

How Gifting and Joint Ownership Can Go Wrong

There is a popular misperception among many seniors that in order to protect their assets from creditors, including the cost of nursing home care, they should consider gifting their assets to their children.

July 4, 2023

Advanced Directives

What You Need to Know When Making Your Will

While many people think that estate planning is only for the wealthy, experts say that’s not the case.

May 12, 2023

Asset Protection

What Is the Meaning of Step-Up in Basis?

Step-up in basis, also known as stepped-up basis, is a wrinkle in the federal tax code that can help heirs avoid or reduce taxes on inherited assets.

May 8, 2023

Asset Protection

Does Estate Tax Have an Impact on My Plans?

There is no Florida estate tax, although you may still be subject to the federal estate tax. It’s one of 38 states in the country that doesn’t levy a tax on estates, regardless of size.

May 4, 2023

Asset Protection

What are the Big Emotional Issues in Estate Planning?

There is a massive movement of money going on right under our nose. It’s not illegal or unethical. However, it’s fraught with peril.

March 16, 2023

Charitable Planning

How Does Estate Planning Work for Caregiving Children?

A not uncommon estate planning scenario is an elderly parent who lives with an adult child, either at the parent(s)’s home or at the child’s home.

March 13, 2023

Charitable Planning

What’s a Bequest?

When a person uses a will to leave property to their family, friends or the causes they support, the act is known as a bequest. A bequest can be the cash, investments, jewelry or other items that a person passes to beneficiaries when they die.

February 21, 2023

Charitable Planning

How to Use Qualified Charitable Distributions in Estate Planning

A qualified charitable distribution is a direct transfer of traditional IRA funds to a qualified charity.

February 2, 2023

Category: Charitable Planning

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Understanding Charitable Giving Laws

Do You Pay Taxes on Gifts From Parents?

How Gifting and Joint Ownership Can Go Wrong

What Is the Meaning of Step-Up in Basis?

Does Estate Tax Have an Impact on My Plans?

What are the Big Emotional Issues in Estate Planning?

How Does Estate Planning Work for Caregiving Children?

What’s a Bequest?

How to Use Qualified Charitable Distributions in Estate Planning

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