Charitable Planning Before the Sale of a Business

Avoid tax traps that get in the way of a successful gift.

David Thayne Leibell, Carrie J. Larson, Brian Schimpf | Feb 20, 2020

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Charitable planning in advance of the sale of a closely held business sounds like an effective way to minimize income taxes. The business owner donates stock to a charitable organization or to a charitable trust and receives a full fair market value (FMV) deduction against her income taxes, subject to certain adjusted gross income (AGI) limits.

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