There are a ton of benefits to properly conducting gift planning. If you intend on making a gift to a loved one that has a significant monetary value, you should most certainly speak with an experience tax professional to ensure you don’t have to pay anymore than you are legally required to.
Gift planning can help you with several needs at once and below we’ve listed some of the biggest benefits one can receive when done properly.
- It can help you generate income for yourself and your loved ones while helping a worthy cause at the same time.
- When the gift is carefully chosen, it can help minimize your income, gift, and estate tax burden.
- You can structure gift plans to honor a family member or friend.
- With proper gift planning, you may find you can donate more than previously thought possible.
In order to plan your gift for maximum impact, get in touch with Singer Tax & Accounting, PC, PC today. There is a long list of possibilities, so work with us to discover which option is best for you.