What is Charitable Giving?
A charitable gift imparts double satisfaction to the donor: supporting a charity’s good works and the potential benefits of a tax deduction. Charitable contributions are deductible, within certain limits, in calculating income, estate, and gift taxes. Contributions can be in the form of cash or property.
Financial Benefits of Charitable Giving
Deductibility is a strong incentive for many charitable gifts, which is a major reason why Americans are generous givers to charitable causes. If you are considering a significant gift to a qualified charitable organization, it can be very advantageous to make your gift through a charitable trust.