Charitable Deduction Planning

Most public charities are constantly in need of additional contributions to meet their annual budgets. At Dana Whiting Law, with our tax expertise, we volunteer time to help these charitable organizations in their fund raising efforts. Most professionals agree, and it is supported by research, that donors are more likely to give and are more likely to give bigger amounts once they fully understand the income tax benefits of charitable giving. The IRS has provided many wonderful tax benefits to taxpayers that make charitable contributions. At Dana Whiting Law, with our advanced degrees and knowledge on the Federal Income Tax Code, we are able to assist our clients in understanding the income tax benefits of charitable giving. Our knowledge and expertise covers a broad range of Trusts, including Charitable Remainder Trusts, Charitable Lead Trust, Pooled Income Funds, Donor Advised Funds, Private Foundations and Charitable Gift Annuities. In most cases, giving to charity is a win, win, win. The clients receive large income tax deductions and the charities receive the donations. In some cases, the kids are even better off. Even though the money passes to charity when the client dies, the family could purchase a life insurance policy, using the income tax savings to pay the premium. On the death of the clients, the large donations goes to charity, and the life insurance policy goes to the kids.