Charitable Tax Planning

Providing for a favorite charity through retirement or estate planning assets has become increasingly popular. If you are considering making such a charitable gift, you must properly plan for tax issues.

Assets are often subject to federal income tax when distributed, whether distribution is before or after death. But charities do not usually have to pay income taxes. Transferring your assets to a charity will produce a charitable income tax deduction for yourself, but much of that may be eliminated because the value of the assets may need to be included in your income.

Our job is to help you sort through the maze of laws and develop a charitable tax plan that will allow you to distribute your assets in the way you choose. To set up a consultation, call 508-853-1900.

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Northborough, Westborough, Sturbridge, and Harvard

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