Charitable Giving Tax Considerations

Now that the holiday season has arrived and 2018 is drawing to a close, many of us will be contemplating end-of-the-year charitable gifts.  The tax code allows for donors who give appreciated securities, real estate and other assets to charity that the donor has owned over 1 year, to deduct the fair market value of the gifted asset without paying taxes on the built-in gain.  For donors over age 70 ½, the tax code allows donors to make tax-free charitable gifts of up to $100,000 directly from an IRA to charity.  To learn how to take advantage of these tax breaks, please click here.