Getting funds out of an irrevocable family trust for charity is often difficult, and new trusts should be designed with greater flexibility, according to two experts.
Charitable Planning
Qualified appraisal required for charitable contributions of cryptoassets
The exchange-reported value of digital assets does not substitute for the qualified appraisal required for a charitable contribution deduction; a reasonable-cause exception will not apply, the IRS Office of Chief Counsel advises.
Safe-harbor language issued for amending conservation easement deeds
In response to a requirement in the SECURE 2.0 Act of 2022, the IRS issued a notice Monday that allows donors to amend conservation easement deeds to substitute the safe-harbor language for the corresponding language in the original deed.
How to keep Ukraine donations safe from fraudsters
Taking the time to research charities can help donors make certain that their donations are being used for the intended purpose.
Ask the expert: Gift planning
Karla Valas leads fundraising for Fidelity Charitable, the nation’s largest grantmaker. Her team helps CPAs to prioritize sophisticated planning conversations that incorporate charitable strategies.
Help clients make the most of 2020 charitable giving
Mike Landsberg, CPA/PFS, discusses what he’s seeing in terms of charitable giving this year, how the CARES Act has affected giving, and how clients can use giving to save on taxes while contributing to causes that matter to them.
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SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.