Surgent's Introduction Charitable Gifting for Individual Taxpayers

Overview

This course is designed to provide a comprehensive understanding of charitable gifting strategies and their implications for individual taxpayers. Participants will explore the fundamentals of charitable giving, including the tax benefits, legal considerations, and planning opportunities available under current tax law. The course will cover the types of organizations that qualify for charitable contributions, the income and estate tax treatment of gifts, and the various methods of structuring charitable donations to maximize tax efficiency. Attendees will learn about specific charitable gifting techniques such as donor-advised funds, charitable remainder trusts, and qualified charitable distributions from retirement accounts. The course will also examine tax deduction limits, substantiation requirements, and the impact of state tax credits on charitable giving. By the end of the course, participants will be equipped with the knowledge and tools to guide clients in implementing effective charitable giving strategies that align with their financial and philanthropic goals.

Prerequisites

None

Objectives

• Define charitable gifting and explain its tax advantages for individual taxpayers
• Identify the types of organizations that qualify for tax-deductible charitable contributions
• Understand the income and estate tax treatment of charitable gifts, including deduction limits and carryforward provisions
• Differentiate between various charitable gifting strategies, including direct donations, donor-advised funds, charitable remainder trusts, and qualified charitable distributions
• Analyze the impact of state tax credits and federal tax deductions on charitable giving decisions
• Explain the documentation and substantiation requirements necessary to support charitable contribution deductions
• Develop tax-efficient charitable gifting plans that align with client goals and regulatory compliance requirements

Highlights

• Fundamentals of charitable gifting
• Income and estate tax considerations for charitable giving
• Charitable deduction rules and limitations
• Structuring charitable contributions for maximum tax efficiency
• Advanced charitable gifting techniques
• Compliance and documentation requirements