Crowdfunding has helped many people in New York raise money online. This money can be used for charities, businesses, and as gifts. Many are surprised to learn that money raised through crowdfunding might be taxable. When is crowdfunding money considered a gift? The...
Many people throughout New York take part in charitable giving. For instance, you might donate unwanted clothing to a local charity. You might also be someone who gives away millions each year to charitable organizations. Besides helping those in need and making you...
It's crucial that you know what's going to happen with your financial future beyond your own lifetime. With everything else there is to worry about during the process of forming your estate plan in New York, it leaves charitable giving often forgotten about and pushed...
Each year, many people in New York give back by donating to charities. Whether you're a first-time or more experienced donor, you can make mistakes during the donation process. Avoiding these mistakes helps ensure you're doing the most with your assets. Don't forget...
If you've always wanted to do some good to the world by giving part of your resources to charitable causes and keeping enough to take care of yourself and loved ones in New York, you may want to consider a charitable remainder trust. This trust lets you kill three...
Planned giving is an opportunity for people to make charitable donations in the future. Significant tax savings occur after the filing of annual tax returns. Many New York residents are becoming aware of the numerous benefits and options that they have for giving to...
If you are planning your New York estate and are trying to decide between a charitable trust and a foundation, it may help to review their key similarities and differences. Each option has its own unique benefits and drawbacks that may apply differently to you...
For many in New York, charitable giving plays a significant role in wealth disposition after death. A firm grasp of all of the different ways in which philanthropic bequests can offer tax benefits while also helping others can help people feel comfortable with their...
Various legal ways exist to reduce tax burdens. One common way New York residents could reduce money owed to the Internal Revenue Service involves making legal charitable donations. The statutes that establish charitable giving as an acceptable tax avoidance may...
A charitable lead trust (CLT) is a type of trust that is commonly used for charitable giving and tax planning purposes. A New York donor creates a CLT by transferring property to a trustee for the benefit of a charity. How a CLT works A charitable lead trust sets up a...
