Fully understand the rules and guidelines you should know when donating to a charitable organization.
This presentation will share the basic tax benefits for charitable giving, highlighting popular best practices and techniques that are important for clients with charitable intent as well as nonprofit organization clients. Implications for income, capital gains, and gift/estate tax will be explained, including a review of the applicable IRS tax forms and publications. The difference between tax benefits for gifts to public charities and private foundations will be highlighted. Tax benefits and best practices for gifts of cash, qualified charitable distributions, long and short-term capital gain property, ordinary income property, and tangible personal property will be reviewed in detailed. The application of the tax rules to charitable bargain sales will be explained. The tax benefits and best practices for life income plans such as charitable gift annuities and charitable remainder trusts will be reviewed. The tax benefits and techniques of other planned gifts will include beneficiary of retirement plans, owner and/or beneficiary of life insurance, charitable lead trusts, remainder interests in personal residences and farms, conservation easements and donor-advised funds.
Learning Objectives
- You will be able to define important tax forms and publications for charitable giving.
- You will be able to describe important techniques for charitable giving.
- You will be able to discuss the basic tax benefits for charitable giving.
- You will be able to explain the basic best practices for charitable giving.
Agenda
Overview
- Income, Capital Gains, Gift/Estate Tax
- Applicable IRS Tax Forms and Publications
- Gifts to Public Charities
- Gifts to Private Foundations
Gifts of Cash, Long and Short-Term Term Capital Gain Property, and Bargain Sales
- Cash Including Qualified Charitable Distributions
- Long-Term Capital Gain Property
- Short-Term Capital Gain Property
- Bargain Sales
Gifts of Ordinary Income Property and Tangible Personal Property
- Ordinary Income Property
- Tangible Personal Property
Gifts for Life Income Plans
- Charitable Gift Annuities
- Charitable Remainder Trusts
Other Planned Gifts
- Beneficiary of Retirement Plans
- Owner and/or Beneficiary of Life Insurance
- Charitable Lead Trusts
- Remainder Interests in Personal Residence or Farm
- Conservation Easements
- Donor Advised Funds
Speakers
Philip M. Purcell, Esq,
Consultant for Philanthropy, LLC- Director of planned giving for the Central Territory of the Salvation Army
- Adjunct faculty, Indiana University Lilly School of Philanthropy and Maurer School of Law
- Consultant for publicly supported charitable organizations and private foundations within the U.S. and internationally
- Frequent speaker at local, regional, and national conferences
- Member of the IRS Tax Exempt Organization Advisory Council (Midwest region) and the American and Indiana State Bar Associations
- President-elect of the American Council on Gift Annuities and past director of the National Association of Charitable Gift Planners
Who Should Attend
This live webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, CFOs, finance directors, business owners and managers, tax managers and financial planners.
