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Wednesday February 1, 2023

For Advisors

We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
IRS Reminder To Report Digital Asset Income
Washington News
In IR-2023-12 the Internal Revenue Service (IRS) reminded taxpayers to report all digital asset income on their 2022 income tax returns. All taxpayers must answer a digital asset question on IRS Form 1040. The IRS has expanded and clarified instructions with respect to the question. The question asks, "At any time during 2022, did you: (a) receive (as a reward, award or payment for property or...
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Lucky Lucy Lindstrom's
Case of the Week
Lucky Lucy Lindstrom finished college and headed west. She started as a financial analyst with a large company in Seattle. After just four years, she became a Registered Investment Advisor and began advising clients. Lucy also managed her own investments. With her keen insight into financial markets, Lucy soon began to move from traditional stocks and bonds into futures and commodities markets. Lucky Lucy...
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Foundation's Scholarship Procedures Approved
Private Letter Ruling
Foundation requested advance approval of its scholarship and educational grant procedures under Sec. 4945(g)(1) and Sec. 4945(g)(3), respectively. Foundation plans to operate a scholarship program for students who enroll in graduate level courses in teaching and education. These will be one-time scholarships with the option to re-apply. Renewal will be based on whether the...
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Unitrust IV -  Students, Cash and Homes
Article of the Month
Charitable solutions can create a steady stream of payments for a donor or family member. Professional advisors may provide guidance on retirement planning, investments, tax strategies and charitable giving. Clients are often concerned with maintaining their standard of living, minimizing tax recognition and supporting their favorite charitable organizations. Life income gifts are a great solution for...
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Deduction Calculator
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Run charitable deduction calculations for your favorite gift plan.
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Charitable Tax Reference
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website.
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