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Sunday December 10, 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.
Deduct Your End of Year Gifts
Washington News
Many nonprofit supporters make gifts in December. These gifts often may be larger and are an excellent way to benefit a nonprofit. It is important to understand how to make a gift of cash or property and qualify for a deduction this year. The basic rule is that a gift to a nonprofit is deductible when the property or cash is delivered to a charity. The delivery rules are dependent on the type of property...
Exit Strategies for Real Estate Investors, Part 1
Case of the Week
Karl was a man with the golden touch. Throughout his life, it seemed every investment idea that he touched turned to gold. Karl’s passion was real estate and he was very successful in his investments. Karl continued to buy and sell real estate at the age of 85. About three months ago, Karl discovered a great investment property. It was a “fixer-upper” commercial building in a great area....
Spousal IRA Rollover Approved
Private Letter Ruling
Decedent owned four traditional IRA accounts at death. Estate was listed as the designated beneficiary of all four IRAs. Under Decedent’s will, the Estate’s residue is transferred to Trust established by Decedent. Taxpayer, the surviving spouse, is a residuary beneficiary of a designated percentage of the Trust. Taxpayer, as sole executor of Estate,...
Charitable Gifts of Commercial Annuities
Article of the Month
Commercial annuities are considered by many to be safe investments for individuals looking to secure a consistent source of income over extended periods, notably during retirement. A commercial annuity will typically provide financial security throughout an individual's lifetime, with the goal of alleviating concerns about depleting retirement savings. Over time, however, an individual's finances may...
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.
Charitable Tax Reference
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website.