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Charitable Tax Planning

Tax laws are written in such a way as to encourage charitable giving.  However, the vast majority of people do not take advantage of the opportunities existing to maximize their tax benefits.  In addition, there are several strategies which not only give to charity, but also enhance the givers financial position.  Charitable Tax Planning is the process of determining which charitable strategies will create the greatest financial benefit to the donor as well as accomplish his or her philanthropic objectives.

Charitable Tax Planning may enable one to:

  • Sell a business or real estate tax free
  • Pass the family farm on to the next generation tax efficiently 
  • Build a tax-free family wealth fund
  • Do a tax-free conversion of an IRA to a tax-free Roth IRA.

The possibilities are limited only by imagination (and tax law!).   Charitable Tax Planning has the potential to address and solve multiple problems and opportunities simultaneously:

  • Reduce or eliminate capital gains tax
  • Reduce ordinary income tax
  • Avoid estate tax
  • Increase retirement Income
  • Transfer business interests tax free
  • Make a significant charitable gift
  • Pass values as well as valuables to next generation
  • Create a meaningful legacy

Some strategies and solutions are well known and have been around for decades, but others are relatively unknown and have only been developed in recent years.  Most solutions will not work for most people.  However, certain solutions work for certain circumstances VERY well.  It is knowing what to do and how to do it.

Here is our approach: