Monthly Archives: November 2015

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GIVE MORE TO YOUR CHURCH* & PAY LESS IN TAXES

Might this be a good time to consider being more generous to your church? Allow me to offer up 4 tips which could allow you to give more to your church and pay less in taxes. Tip 1: Consider All Your Assets You need to consider all your assets to give smart. Don’t just consider… Read more »

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“Related use” in charitable gifts of tangible personal property

Tangible personal property is a fancy way of saying “stuff,” such as a painting. So, when you give stuff to your favorite charity, what are the tax consequences? The amount of your federal income tax charitable deduction depends on the concept of “related use.” If appreciated tangible personal property is considered related to the charity’s… Read more »

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40% off! — gifts made during lifetime v. gifts made at death

40% off! If this sign were up at your favorite store, it would definitely get your attention. Charitable gifts made during lifetime are generally preferable to charitable gifts made by will, for fairly simple tax reasons. A charitable bequest is deductible for federal estate tax purposes, but is not deductible for income tax purposes. A… Read more »