Gift planners don't have to be tax attorneys to be effective in working with donors, but they do need to be tax literate to know the basics of federal income taxes, so they can recognize and understand donors' tax problems and tax-saving opportunities available through gift planning. This session will cover the most important income tax concepts, vocabulary and strategies that gift planners need to know. Emphasis will be on individual taxation, but the session will also cover income taxation of trusts, estates and businesses, and go beyond the charitable giving tax rules, providing important background on areas that affect gift planning, directly or indirectly.

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This program will cover the most important income tax concepts, vocabulary and strategies that gift planners need to know. Emphasis will be on individual taxation, but income taxation of trusts, estates and businesses will also be covered. This program goes beyond the charitable giving tax rules and provides important background on areas that affect gift planning, directly or indirectly. Syllabus for Gift Planners code: 5.0  MORE »

Can a corporation be too generous? In this article, Laura Peebles, CPA, PFS, tax director at the national office of Deloitte & Touche, LLP, discusses a little known provision that may cause corporations that contribute "substantially all" of their assets to charity outright or via a charitable remainder trust to incur a significant and unforeseen tax.  MORE »

As reported last week, President Bush has commissioned a panel to explore a complete overall of the federal income tax system. Shortly before the panel was announced, we received a request from a PGDC member to reprise an article Lynda Moerschbaecher had written back in 1988. Apparently, it left an impression. Once we read it, we knew why. What if you worked for a nonprofit organization and awakened one morning to find the federal income tax had been replaced by a consumption based tax? In Orwellian fashion, Ms. Moerschbaecher looks at the future of charitable giving in an income and transfer tax-free world.  MORE »

Examines the types of gifts that are deductible, how to determine the donor's allowable charitable income tax deduction, percentage limitation and reduction rules, substantiating deductions and compliance penalties.

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In March of 1999, the PGDC published an article regarding the effect of interest rates on charitable contribution deductions for various planned giving vehicles. Given the current low interest rate environment, we thought a reprise would be timely. In this expanded and updated version, PGDC Editor-in-Chief Marc D. Hoffman reviews the types of gift vehicles that provide enhanced income, gift, and estate tax benefits in low interest rate environments, as well as those that are less attractive or may be unavailable to some donors altogether.  MORE »

The authors provide gift planners with basic information about federal income tax so they can recognize and address donors' tax problems and explain tax aspects of planned gifts in simple language. Topics addressed include types of income, individual income tax calculations, basic strategies for reducing income taxes, income taxation of trusts and income taxation of estates. Syllabus for Gift Planners code: 5.01  MORE »

Most gift planners are aware that the deductible amount of a charitable gift may be reduced when depreciable property is involved; however, there has been little guidance providing planners with a practical summary of the applicable rules. In this edition of Gift Planner's Digest, Minneapolis accountant Tom Wesely clarifies those situations where depreciation can significantly impact the charitable deduction, and also analyzes depreciation issues when property is contributed to a charitable remainder trust.  MORE »

Income in respect of a decedednt (IRD), is income owned by a person at death, but receivable after death. The author suggests that testamentary gifts of IRD assets can reduce both estate and income taxes, allowing the donor to transfer more both the his heirs and to charity. Case studies illustrate situations in which IRD may be used in charitable giving scenarios. Syllabus for Gift Planners code: 3.02  MORE »