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Charitable
Donations can save income tax and estate tax while helping a favorite
organization..
Income
Tax Savings for Charitable Gifts
- If you want to support a favorite charity — and collect
hefty tax deductions — consider giving away appreciated
assets that you’ve owned for more than a year.
You’ll avoid capital gains tax and get a tax deduction for
your generosity
Further
Information.....
Donating
Life Insurance Policies
Years ago, you may have purchased life insurance to protect minor
children or your company in the event of your untimely death. Now, your
business is thriving, your children are independent
and you don't need the policy. Yet if you simply
drop it, you may be hit with a tax bill. One way around that
is to name your favorite charity as irrevocable
beneficiary — you can collect a sizable tax
deduction for the charitable donation. Further
Information.....
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