Ian Platou believes engaging in charitable giving can have a tremendous impact on the causes and organizations you care about. Developing a plan of giving can help you meet your philanthropic and personal goals. Factors to consider include timing, type and value of asset donated, recipients of your contributions, and the financial goals of you and your family.
The U.S. Tax Code allows for income tax deductions on charitable contributions made during life and allows for estate tax deductions on charitable contributions made at death (e.g., in a Last Will and Testament).
Unique planning tools, such as split-interest Charitable Remainder Trusts, can also be utilized to help donors achieve their philanthropic goals, while generating income and maintaining financial security. Speaking with a tax attorney can help you navigate a path towards meeting your charitable and legacy goals in a tax efficient manner.
