Timothy D. Forester, CPA, CGMA discusses financial strategies for charitable giving.
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Financial Strategies for Charitable Giving
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Published in Financial Strategies for Charitable Giving
Article
Reduce your PA taxes with the Educational Improvement Tax Credit (EITC)
Business owners in Pennsylvania can reduce their tax liabilities by taking advantage of a credit based on donations made to qualifying charities that support education. A business must be approved for the credit before donating; the application for participating can be found at https://www.esa.dced.state.pa.us/Login.a...
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Flexibility and Options With a Charitable Trust
Disinherit your favorite Uncle – Sam. This charitable trust helps you reduce taxes, fund ministry and control timing of your income while maintaining control over the charitable beneficiaries. Owners of appreciated property, farm land, and securities with a low cost basis can benefit from this strategy. For those cons...
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Article
Donor Advised Funds
A Donor Advised Fund is similar to a brokerage account, but instead of investing for your future, you are investing in ministry by giving to the causes closest to your heart. You make a tax-deductible donation to your Fund and then recommend grants from that Fund over time. The Process: • Open a donor advised fund adm...
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Charitable Remainder Unitrust (CRUT)
Would you like to guarantee income for life while at the same time providing for your favorite charity? This gift method also includes the potential to increase your income as you get older. A CRUT is designed for the person who wants to make a gift to charity, but needs income during life. This trust is especially be...
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Charitable Gift Annuities / Deferred Gift Annuity Agreement
Would you like to guarantee income for life while at the same time providing for your favorite charity? A gift annuity is an irrevocable contract between you, as the donor, and the charity. In exchange for your contribution, the charity will make guaranteed payments as indicated in your agreement to the named annuitan...
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