Charitable Giving Information

Deduct It! Deduct It! For Tax Year 2008

Deduct It! Deduct It! is updated each year to document your non-cash charitable donations for use on your individual tax return (Form 1040 Schedule A). Fair Market Values are researched across the country in used clothing stores, thrift shops, online, and other methods. Our program meets all IRS regulations and is designed for you to document your donations as you’re boxing them up. All you may need is a calculator at year-end to add up your tax savings!

About the Author

Bert Whitehead, MBA, JD is a fee-only personal financial advisor and tax attorney. He began his career in 1972, pioneering the Cambridge system, a holistic approach that helps everyday people manage their financial lives. His firm specializes in individual tax returns and we’ve utilized their extensive knowledge in the U.S. tax law in the development of this book. Carol Johnson, RP(sm) is the Operations Director of Bert’s tax practice and is a Registered (financial) Paraplanner through the College of Financial Planning. She holds several certificates in ISO and Six Sigma, and is the development, research, and detail person behind Deduct It! Deduct It!

Get the Most Out of Giving with PricewaterhouseCoopers’ Guide to Charitable Giving

Private philanthropy is the cornerstone of charitable organizations in the United States. This support provides numerous benefits to society as well as a tax-efficient means for you, the donor, to transfer wealth. Understanding the tax implications of your donations can be confusing as well as financially detrimental if you do not have the proper guidance.

PricewaterhouseCoopers’ Guide to Charitable Giving addresses the many tax aspects of charitable giving by walking you through the rules of charitable giving and their relationship to your taxes. This indispensable guide explores different charitable giving alternatives, focusing on current gifts, deferred or planned gifts, gifts of income, annuities, and charitable bequests. It also covers the advantages and disadvantages of each type of gift, as well as funding alternatives and assets that may be utilized. The charitable giving strategies discussed are supplemented with essential forms, their instructions, and relevant IRS publications.

The charitable advice and strategies offered by PricewaterhouseCoopers professionals outline some of the best ways to give in a timely and tax-efficient manner. Take this opportunity to understand the tax implications of your charitable donations and learn how to get the most out of giving.

This authoritative guide presents in-depth discussions on such hot topics as the timing of charitable deductions, estate and gift tax considerations, special property rules, and planned giving. Packed with practical tips and hard-to-find advice, Charitable Giving Law Made Easy sheds light on complex legal issues concerning charitable giving with plain-language explanations of laws and regulations for non-legal professionals.

From the Inside Flap

Comprehending the legal implications of the making of charitable contributions can be confounding as well as financially detrimental if the rules are not followed. Written for everyone from nonprofit novices to sophisticated directors of established organizations, Charitable Giving Law Made Easy assists non-lawyers through the nonprofit, tax-exempt organizations, charitable giving maze.

Author Bruce Hopkins—a leading authority on tax-exempt organizations— offers plain-language explanations of the definition of a charitable gift, the percentage limitations, rules as to gifts of property, planned giving, and the substantiation and appraisal requirements that apply to nonprofit organizations.

Several recent developments have drastically affected charitable giving law, including a congressional enactment of major charitable giving legislation, ambitious regulations and rulings projects by the IRS, and court contributions to the law. Charitable Giving Law Made Easy addresses these issues with the insight of the author’s world-class experience.

Covering everything you need to know to navigate the complex web of charitable giving law issues, this expert guide explores:

• Contributions of money and property
• Deduction percentage limitations
• Unique charitable giving situations
• Planned giving techniques
• Administration of charitable giving programs
• And much more!

Written by a lawyer for non-lawyers, Charitable Giving Law Made Easy demystifies the rules and regulations surrounding gifts to charitable organizations and provides legal novices with a useful understanding of charitable giving law.

The Tax Law of Charitable Giving: 2009 Cumulative Supplement – The Tax Law of Charitable Giving, Third Edition is completely revised, revamped, and updated. Written in plain English, it can help lawyers, managers, and development directors in tax-exempt organizations make sure they are up to date on all current regulations pertaining to charitable gifts. Detailed documentations and citations are provided. As well, references to regulations, rulings, cases, and tax literature are included. Professionals can ensure they are well prepared to make decisions about their organization s fund-development program.

About the Author
Bruce R. Hopkins is a senior partner in the law firm of Polsinelli Shalton Flanigan Suelthaus PC, practicing in the firm’s Kansas City, Missouri, and Washington, D.C., offices. He specializes in the field of charitable giving. His practice ranges over the entirety of tax matters involving charitable giving (including planned giving) and tax-exempt organizations, with emphasis on the formation of nonprofit organizations, acquisition of recognition of tax-exempt status for them, the private inurement and private benefit doctrines, the intermediate sanctions rules, legislative and political campaign activities issues, public charity and private foundation rules, unrelated business planning, use of exempt and for-profit subsidiaries, joint venture planning, tax shelter involvement review of annual information returns, Internet communications developments, and fundraising law issues. Mr. Hopkins served as chair of the Committee on Exempt Organizations, Tax Section, American Bar Association; chair, Section of Taxation, National Association of College and University Attorneys; and president, Planned Giving Study Group of Greater Washington, D.C. Mr. Hopkins is the series editor of Wiley’s Nonprofit Law, Finance, and Management Series. In addition to The Tax Law of Charitable Giving, Third Edition, he is the author of Charitable Giving Law  Easy; IRS Audits of Tax-Exempt Organizations: Policies, Practices, and Procedures; The Law of Tax-Exempt Organizations, Ninth Edition; The Planning Guide for the Law of Tax-Exempt Organizations Strategies and Commentaries; The Law of Fundraising, Third Edition; The Tax Law of Associations; The Tax Law of Unrelated Business for Nonprofit Organizations; The Nonprofits’ Guide to Internet Communications Law; The Law of Intermediate Sanctions: A Guide for Nonprofits; Starting and Managing a Nonprofit Organization: A Legal Guide, Fourth Edition; Nonprofit Law Made Easy; 650 Essential Nonprofit Law Questions Answered; The First Legal Answer Book for Fund-Raisers; The Second Legal Answer Book for Fund-Raisers; The Legal Answer Book for Nonprofit Organizations; The Second Legal Answer Book for Nonprofit Organizations; and The Nonprofit Law Dictionary; and is the co-author, with Jody Blazek, of Private Foundations: Tax Law and Compliance, Second Edition; also with Ms. Blazek, The Legal Answer Book for Private Foundations; and with Thomas K. Hyatt, The Law of Tax-Exempt Healthcare Organizations, Second Edition. He also writes Bruce R. Hopkins’ Nonprofit Counsel, a monthly newsletter published by John Wiley & Sons.

Mr. Hopkins earned his J.D. and L.L.M. degrees at the George Washington University and his B.A. at the University of Michigan. He is a member of the bars of the District of Columbia and the state of Missouri. Mr. Hopkins the 2007 Outstanding Nonprofit Lawyer Award (Vanguard Lifetime Achievement Award) from the American Bar Association, Section of Business Law, Committee on Nonprofit Corporations. He is listed in The Best Lawyers in America, Nonprofit Organizations/Charities Law, 2007–2009.