If you are not happy with the results below please do another search
Your most valuable asset? Most would say their home. Could your home benefit your favorite charity? Yes, and with a retained life estate, you can give away your house, keep the keys, and get a current tax deduction. Under a retained life estate, the donor irrevocably deeds a personal residence or farm to charity, but […]
You’ve probably heard it before on your favorite law show or movie court case, but do you know what “quid pro quo” actually means? Quid pro quo (“something for something” in Latin) means an exchange of goods or services, where one transfer is contingent upon the other. Quid pro quo can have different meanings in different […]
In the days since the horrific school shooting in Parkland, Florida on February 14, many of the surviving students of Marjory Stoneman Douglas High School, along with students across the country and their supporters, have banded together to demand “never again.” Their battle cry is built on the disappointment and frustration with elected policymakers at […]
A less-than-obvious, but ideal asset for charitable giving is appreciated, long-term, publicly traded stock. The merits of this giving tool are numerous, but there are some questions I hear from donors considering this options. For instance, when do you assess the value of a stock donation—before the donation, during, or after? And, how do you determine […]
I worry about all the folks going to church this morning. (I use “church” as a term that could be easily replaced with other houses of worship: synagogue, mosque, etc.) Here’s my specific concern: when the collection plate comes around, do folks give cash? Probably. And if so, are they documenting their charitable gift? Probably […]
It’s been said, “You should be giving while you are living, so you’re knowing where it’s going.” Giving now allows you more say over how your gifts are handled, and you’ll get to experience the joy that comes with helping the causes you care for most. Gifts to charities made during your lifetime also provide […]
If a charitable contribution is made to a foreign organization, the donor generally cannot deduct the contribution for income tax purposes. Exceptions may apply in very limited situations; specifically, the U.S. has tax treaties with Canada, Israel, and Mexico. Generally, though, if the donee is a foreign charitable organization an income tax deduction is unavailable. […]
Capital assets include stocks, bonds, real estate, art, and antiques. The amount a donor can claim as an income tax charitable deduction depends on whether the property is considered short-term or long-term capital gain property. The long-term holding period is a 12 months plus a day. Short term property is that which is held for […]
I’m proud to be an active Rotarian. I’m also proud to be an Iowa lawyer. And, I am proud of the singular, perhaps even unique, mission of my law firm. The mission of Gordon Fischer Law Firm is to promote and maximize charitable giving in Iowa. To achieve this mission, I help individuals, families, and […]
Brackets? During March Madness, all this talk of brackets reminded me of tax brackets — and the importance of being tax-wise with your charitable giving. A relatively simple, but powerful, tax tool is the federal income tax charitable deduction. Save $$$ and help your favorite charities even more I say, it’s better to give and receive. You […]