Charitable Income Tax Deductions for Estates and Trusts: IRS Rules, Split-Interest Gifts, Planning and Reporting
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will provide trust and estates counsel guidance on applicable rules regarding charitable income tax deductions for trusts and estates. The panel will discuss income tax charitable deductions under Sec. 642(c), charitable remainder interests, split-interest gifts, governing instrument and gross income requirements, and planning and reporting requirements.
Outline
- Governing documents requirements
- Internal revenue code requirements for trusts and estates
- Reporting obligations and challenges
- Recent cases and planning considerations
Benefits
The panel will review these and other critical issues:
- Charitable deduction rules and requirements
- Reporting of charitable deductions
- Distinctions between contributions made from the corpus and those made from income
- Types of trusts eligible to make deductible donations
- Specific provisions in trust documents that allow for deductible contributions
- Differences between allowable individual and trust contributions
Faculty
Amy Dalen, JD
Principal
Hill Barth & King
Ms. Dalen is a Principal and the Chair of the Tax Advisory Group at HBK CPAs & Consultants. The Tax Advisory Group... | Read More
Ms. Dalen is a Principal and the Chair of the Tax Advisory Group at HBK CPAs & Consultants. The Tax Advisory Group is a group of highly specialized professionals who provide tax training to our team members, oversee compliance with tax policies in order to mitigate risk to the firm, and provide tax planning and consulting services for our clients. She pecializes in estate, gift, trust, individual, and nonprofit taxation. Ms. Dalen is skilled at researching complicated tax issues, consulting on complex estate plans, and providing guidance for our clients to ensure they are in compliance with their tax filing responsibilities.
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Sarah N. Gaymon, CPA
Senior Manager
Hill Barth & King
Ms. Gaymon is a Senior Manager in the Tax Advisory Group at HBK CPAs & Consultants located in the West Palm Beach... | Read More
Ms. Gaymon is a Senior Manager in the Tax Advisory Group at HBK CPAs & Consultants located in the West Palm Beach office, specializing in trusts and estates. Her background includes tax compliance and tax consulting for high net worth individuals, family groups, trusts, estates, and gift tax issues. Ms. Gaymon aids her clients in the year-end planning process as well as assisting with family wealth, succession and estate planning. She also has experience in US planning and compliance related to foreign trusts, foreign estates, and individual foreign tax compliance and residency issues. Ms. Gaymon has completed extensive research in the gift and estate tax area and has contributed to the publication of an international estate and gift tax planning handbook for the DFK group. She was also published in the Naples Daily News Estate Planning Insert for two consecutive years.
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