Why give your money to the IRS when it could go to your favorite charity instead? Take advantage of this unique 1031 Exchange Endgame, and instead of paying capital gains taxes to the IRS, give that money to YOUR charity of choice! Lon Dufek from Providence Foundations of Oregon, takes us through the basics of Charitable Remainder Trusts and more in this latest Ask the Expert, CRT edition!
A CRT is a trust established for the benefit of a charitable organization under which the trustor receives income from an asset for a set number of years or for the trustor’s lifetime. It is a tool that enables you to reduce or virtually eliminate capital gains tax on the sale of an asset funding the CRT, claim an income tax deduction, or receive income and make a gift to the charity or charities of your choice. Upon the termination of the trust, the asset reverts to the charitable organization. The trustor receives a charitable contribution deduction in the year in which the trust is established, and the assets placed in the trust are exempt from capital gain tax...
Expert Contact: Lon Dufek, Providence Foundations of Oregon
providencefoundations.org/our...
Lon.Dufek@providence.org
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Негізгі бет Charitable Remainder Trusts (CRT's) - The Exit Strategy for the Charity of YOUR Choice!
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