BOCA RATON, Fla., May 4, 2017 /PRNewswire/ -- It's been said
that it is better to give than it is to receive and nothing could
be truer when it comes to Charitable Planning along with the many
tax benefits it offers. With all the tax hikes and market
volatility, with 85% of Americans already giving to charity,
charitable planning remains a largely untapped opportunity.
There are simple programs which can be easily implemented that can
provide enhanced tax savings and income benefits.
Charitable planning can be beneficial not only for tax and
philanthropic benefits but for income planning as well. Chamberlin
Financial now has a strategic partnership with Legacy Tree
Foundation to offer charitable planning services to clients. Legacy
Tree Foundation only works directly with advisers, not the public,
so clients must work directly with an adviser who works with Legacy
Tree Foundation.
How can someone can benefit from an immediate charitable
deduction? The deduction can be used to reduce Adjusted Gross
Income (AGI) by up to 50%. If the tax deduction is large enough
that it cannot be utilized fully in the first year, the remaining
amount can be carried forward for up to 5 additional years.
Examples of people who might be able to utilize these tax
deductions are:
- Annuity owners who would prefer NOT to pass along lump sum
annuity gains to their heirs.
- People who are taking RMDs that they currently neither want nor
need.
- People who earn enough in social security, pension and other
investment income that they are making quarterly tax payments.
- Families who experience an unusual year of inflated income due
to the sale of a business, real estate, or other type of
windfall.
- Put real dollars back in your pocket.
Chamberlin Financial has many case transfer studies listed on
their website concerning everything from annuity, cash, securities,
real estate, and even a Roth IRA Conversion case study.
It's Not Just for the Wealthy
By understanding the basic features of charitable gift annuities
and charitable bargain installment sales, clients can strategically
unlock assets, create tax deductions and set up structured payments
for heirs while also supporting their favorite charities. These
simple programs include:
- The charitable bargain installment sale, which provides either
an immediate or deferred structured income payout to a family for
life for a set number of years.
- The traditional charitable gift annuity, which creates an
immediate or deferred lifetime payout for up to two
individuals.
Anyone planning to add charitable planning to their portfolio
should work with an adviser who has a strategic partnership with a
conduit to charitable organizations and understands charitable
giving tax laws.
Media Contact:
Stuart Chamberlin
157870@email4pr.com
561-962-2775
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visit:http://www.prnewswire.com/news-releases/charitable-planning-tax-benefits-300451359.html
SOURCE Chamberlin Financial