CPAs can provide valuable suggestions to charitably inclined clients by informing them of strategies and arrangements, practical charitable giving, and tax rules that interact with each other—including a straightforward summary initially designed to cover the ordinary philanthropic landscape of the versatile estate planner. This webinar will answer common questions while also exploring will and trust provisions, lifetime giving, and other structures that can be remarkably simple and straightforward once the charitable rules’ extraneous and confusing parts are squared away.

Learning Objectives:

• Define adjusted gross income limitation percentage rules as well as the associated tricks and traps, including the 100% of AGI charitable contribution trap when the taxpayer also has other itemized deductions


• Identify will and trust provisions to enable beneficiaries to receive income tax deductions when their parents or others leave assets for charity


• Identify issues and opportunities to maximize tax savings with donor-advised funds and community foundations for affluent families


• Determine when to use incomplete charitable gift foundations, private foundations, and private operating foundations


• Identify conversion between different types of non-profit entities


• Determine how to have public charity status, notwithstanding control and donations being from one family


• Identify how saving income tax on the sale of appreciated assets in conjunction with dedicating assets to a charity can be controlled by the family during the remaining lifetime of the donor


• List NIMCRUTS to maximize benefits and flexibility


• Determine the difference between the grantor and non-grantor CLAT status