PFP1936 - SALT Limitations and Charitable Planning for Tax Purposes

Description

The doubled standard deduction and the $10,000 SALT cap shattered normal itemized deduction planning. Planning to mitigate the cost of the SALT cap is possible and often prudent. Moreover, the changes compel the charitably inclined to embrace more complicated strategies. This session will discuss short-term “tactical” strategies as well as long-term “strategic” ideas to reduce your clients’ income tax burden following the “simplification” of deductions. This will include techniques like itemizing every other year, using donor-advised funds, private foundations, charitable trusts and donations of securities. We will also discuss how to use incomplete non-grantor trusts and other trusts to enhance both your SALT and charitable giving deductions.

Learning Objectives:

1. Understanding advanced charitable strategies.
   
2. Understanding non-grantor trusts.
   
3. Understanding the IRC§642(c) charitable deduction.
   

Speaker(s):

• Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), Partner, Keebler and Associates, LLP