Surgent's Introduction to 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.

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

Prerequisites

None

Designed For

Accounting and finance professionals who need to know the latest on charitable giving strategies, tax implications, and estate planning considerations

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