Charitable Giving
2008 Capital Gains Tax Sep 19, 2008
Capital gains tax is imposed on gains realized from the sale of capital assets such as a home, investments, and business interests. Under the Jobs and Growth Tax Relief Reconciliation Act of 2003 (2003 Tax Act) and the Tax Increase Prevention and Reconciliation Act of 2005 (2005 Tax Act), certain dividends are also taxed at capital gains tax rates. Generally, capital gains tax rates are lower than the rates applied to ordinary income.
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Control Your Legacy with a Private Foundation Sep 8, 2008
Private foundations can let you control your gifts, reduce taxes and impart your values to future generations. |
Estate Planning; Supporting a Noble Cause Sep 5, 2008
It was February of 1980, at
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Leaving Your 401k to Charity Sep 5, 2008
In some cases, leaving your qualified retirement account to a charity and other assets to your heirs can save on taxes. An important part of establishing an IRA, 401(k), 403(b) or other qualified plan is naming a beneficiary. On the positive side, this helps ensure that upon your death, any remaining account balance will transfer directly to your heirs without going through probate. On the negative side, your heirs could lose up to 80 percent of the account’s balance to income and estate taxes, both federal and state. |
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