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
Your Price: $99.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.