SOP2206. State of Charitable Giving: From Basics to Billionaires

This session will quickly review the types of charitable organizations, the percentage of AGI limitations and the substantiation rules. The discussion will then move to  the income tax consequences of charitable gifts of securities, closely held business interests (C corporations, S corporations, partnerships), retirement plans, artwork, bitcoin, stock options, deferred compensation, private equity,  life insurance, real estate, intellectual property, and cars, boats and planes. 

Learning Objectives:

• Identify the importance of complying with the substantiation rules
• Apply the rules for obtaining an income tax charitable deduction for the different types of assets frequently given to charity
• Determine the three things most professionals do not know about the income tax charitable deduction that can avoid mistakes