On October 3, 2008 another tax bill was enacted, called “Tax Extenders and Alternative Minimum Tax Relief Act of 2008” (Act). The Act extends a the following charitable gift provisions through 2009: ◙ IRA charitable rollover. If you’re aged 70 1/2 + you can donate up to $100,000 of your regular or Roth IRA to…
◙ Sell your CRT Interest: So you’re charitable and sent up a charitable remainder trust (CRT). You get an annuity payment for life, then your favorite charity gets the remainder. Times are tough. Consider selling your CRT interest. You can get a lump sum now, it might even exceed the present value of the…
Summary: As the economic crisis continues, the feeling amongst most folks, is to cut back on discretionary expenses including charity. It shouldn’t be. Those in need require more help during tough economic times, not less. The charities that carry out the good deeds that make life special, that make us human, need more help, not…
Summary: Economic turmoil impacts existing charitable planning in a myriad of ways. Following is a checklist of some. ◙ Charitable Lead Trust (CLT) Burn Out: A common approach for a CLT is for a parent to establish a trust for a charity for a term of years, say 20. During the term an annuity payment…