Comments on: Year-End Tax Planning

By: Steven J Fromm

Steven J Fromm — Sun, 25 Dec 2011 17:02:25 +0000

Your readers may also be interested in what are called charitable remainder trusts. These trusts are used to place monies in trust for the benefit of the donor and the tax-exempt organization. Basically, the donor (and his wife if desired) can be paid an income from the trust for their lives or for a term of years. When this time frame ends the charity named as the residual beneficiary gets the balance in the trust. The advantage for the donor is that they reserve income to themselves and get a tax deduction in the year the trust is funded for the actuarial value of the residue going to charity. There are various types of charitable remainder trusts and the provisions can be fine tuned to meet various needs.
Finally there is something called a charitable lead trust, that works in the opposite way; the charity is paid first and for a number of years and then the balance goes to family or other non-charitable remainder beneficiaries.

By: 13 Tax Deductions You Can't Ignore

13 Tax Deductions You Can't Ignore — Mon, 29 Mar 2010 16:25:44 +0000

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By: Au Pair

Au Pair — Fri, 13 Nov 2009 01:05:01 +0000

Your comment about giving you child care giver a bonus if you have money left in your child care account is a great idea. I have never thought of doing that before. I am sure it could help in a number of ways.