Know the Differences

Many tax and estate-planning professionals are aware of the basic tax rules governing deductions for charitable contributions. They know the general distinctions between the limits on income tax deductions for contributions to private foundations, and for contributions to public charities. But the devil is in the detail: Many of these rules are intricate and complicated. Also, advisors sometimes fail

Many tax and estate-planning professionals are aware of the basic tax rules governing deductions for charitable contributions. They know the general distinctions between the limits on income tax deductions for contributions to private foundations, and for contributions to public charities. But the devil is in the detail: Many of these rules are intricate and complicated. Also, advisors sometimes fail to adequately notice the differences between (1) the income tax charitable contribution deduc

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