Webinar: Individual Charitable Planning: Philanthropy for Income Tax Return Reporting
WS931 | Course | Basic | Scheduled
Description
Many individuals make contributions to religious, educational, scientific, literary, or other 501(c)(3) charities. For the purposes of tax savings, so
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Taxes |
Designed For
Accounting and finance professionals dealing with charitable contribution planning
Prerequisites
None
Highlights
- Which organizations are qualified to receive contributions?
- Types of charitable contributions taxpayers can deduct
- The deduction for quid pro quo contributions
- Strategies for donating property that has decreased/increased in value
- Figuring the deduction for contributions of capital gain property
- Importance of timing when making contributions
- Considering QCDs if a taxpayer is at least 70 ½
- Specifics of donor advised funds
- Deduction may be limited to 20%, 30%, 50%, or 60% of adjusted gross income depending on type of property donated
- How to figure your deduction when limits apply
- Contribution carryovers when your donation exceeds limits
- What written statements should be received from qualified organizations?
- What records should taxpayers keep?
- Substantiation requirements for cash contributions of less than/more than $250
- Substantiation requirements for noncash contributions of less than $250 to over $500,000
- When does taxpayer need an appraisal?
- How and where to report contributions for individual income tax reporting
Objectives
- Be familiar with the tax implications on various types of donations and the tax strategies to minimize the tax
- Navigate charitable giving and properly report noncash charitable contributions on Form 8283
Preparation
None
Notes
This webinar is provided by Surgent. After registering for the course, you will receive an email from Surgent with instructions for logging in to the webinar and obtaining your eMaterials.
You may confirm that your computer meets the minimum requirements by visiting: https://www.surgentcpe.com/webinartest/.
Prices
- Member (Early Bird)
- $99.00
- Non-Member (Early Bird)
- $99.00
- Member
- $99.00
- Non-Member
- $99.00