We are now doing in-office conferences and signings and, with strict COVID guidelines as well as telephone and Zoom. Whether it is remote or in-person we are here to carry out our mission to help and serve our clients.

Estate Planning and Gifts to Charity

When making gifts to charities, keep in mind the following:

  • Give away appreciated stock which you have held for more than a year. You can deduct the market value of the stock, and you do not owe capital gains tax.
  • Get receipts in writing from the donee for gifts over $250.
  • If you are over 70 1/2 years old, transfer up to $100,000 from an IRA to charity and none will be included in your income. It will also count toward the required minimum distribution.
  • If you donate a car, you can deduct only what the charity actually sells it for.

Consult your estate planning attorney for further information.