Tri-County Scholarship Fund’s Post

Charities are close to my heart but from an estate planning perspective, gifts to EU charities left in a Will can have significant inheritance tax consequences. My full article below & also in this weekend’s Financial Times, Money supplement #estateplanning #successionlaw#DMH Stallard LLP

Have you ever heard of this #EstatePlanning term? “Taxable estate” refers to the value of a decedent’s estate after allowable deductions are made. Deductions may include mortgages and other debts, estate administration expenses, and property that passes to the decedent’s surviving spouse and qualified charities. Find this and other terms in our glossary linked here: https://bit.ly/46F3AF7

When you #donate to organizations that provide assistance to #qualifyingcharitableorganizations, #qualifyingfostercareorganizations, public and private #schools, and the #ArizonaMilitaryFamilyReliefFund, you can receive a dollar-for-dollar #taxcredit on your Arizona state return. Click below to read the Price Kong, CPAs blog on Arizona Tax Credits 2023. https://loom.ly/XErl_vM

The 2024 federal budget announced new measures, like revisions to the alternative minimum tax (AMT) rules and an increase to the capital gains inclusion rate, that may affect charities and certain donors. Learn more in the latest TaxNewsFlash.

The 2024 federal budget announced new measures, like revisions to the alternative minimum tax (AMT) rules and an increase to the capital gains inclusion rate, that may affect charities and certain donors. Learn more in the latest TaxNewsFlash.

Since its Giving Tuesday, I wanted to briefly mention one of the ways we are helping our clients give to causes that are important to them in the state of Ohio. Here’s the deal: You can donate $750 per taxpayer to a Scholarship Granting Organization (many Christian schools have set this up already) and get $750 per taxpayer back on your Ohio taxes… It’s through the Scholarship Granting Organization (SGO) tax credit. Ohio allows taxpayers to take a dollar-for-dollar credit of $750 per taxpayer ($1500 for a married couple) for donations given to an SGO registered with the Secretary of State. What’s the deadline? Not December 31 like you would think… Here’s the note from the OH Department of Taxation website (as of 11/28/2023). “Beginning in tax year 2023, the credit may also be claimed for donations made on or before the unextended return due date, but the same contribution cannot be used to claim the credit in two tax years.”  Here’s the list of Ohio schools that are currently registered, in case you’re interested in supporting an SGO. https://lnkd.in/gwR3HAfn

Types of Trusts every Real Estate Investor should know about… 1️⃣ The Land Trust 2️⃣ The Irrevocable Trust 3️⃣ The Revocable Living Trust 4️⃣ The Charitable Remainder Trust (CRT) 5️⃣ The Qualified Personal Residence Trust (QPRT) Have you heard of any of these before? Do any instigate a headache? Let me know in the comments below!

Another in chapter in the book of horror stories related to not hiring a qualified appraiser. Thanks Curtis Kimball, CFA, ASA - Experienced Valuation Expert

The 2024 federal budget announced new measures, like revisions to the alternative minimum tax (AMT) rules and an increase to the capital gains inclusion rate, that may affect charities and certain donors. Learn more in the latest TaxNewsFlash.