Gift Giving the Tax-Free Way Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free. Some are straightforward, while others may require the help of a professional. Your Yearly Coupons Each year on January 1st, […]
Gifting
5 Easy Tips to Simplify Your Year End Charitable Giving
Are you planning on making charitable donations before the end of the year? The IRS reminds us that you must itemize deductions on your tax return to claim a deduction for these gifts. In addition, the following five tips can help make those year-end charitable gifts count. Tip #1 – Give to a Qualified Charity. […]
Don’t Miss Out on These Year-End Tax Planning Strategies
Now is the ideal time to start year-end tax planning. Below you will find a variety of tax-saving strategies you should consider using immediately so that you can get your 2015 tax house in order well in advance of the fast-approaching holiday season. Plan Now for a Bountiful Fall Harvest The last thing you want […]
Year End Estate Planning Tip #5 – Make Gifts That Your Family Will Love but the IRS Won’t Tax
Don’t let the chaos of the holiday season prevent you from avoiding federal gift tax by making “annual exclusion” gifts, medical payments gifts, and educational gifts. Make Annual Exclusion Gifts “Annual exclusion” gifts are transfers of money or property in an amount that does not exceed the annual gift tax exclusion. In 2014, the annual […]