Monday September 27, 2021

For Advisors

Advisor Resources
We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
Charitable Tax Reference - GiftLaw Pro
GiftLaw Pro
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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...
Son's Intentions Paved with Gold -- Part 3
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...
Foundation Does Not Control Supporting Organization
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...
Washington News - Expanded Tax Benefits For 2021 Gifts
Expanded Tax Benefits For 2021 Gifts
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...
Designating Beneficiaries for Retirement Accounts, Part II
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...