Bill Gray

 

The IRS has changed its plan of attack against income tax deductions for charitable gifts.  Rather than beginning a cumbersome and expensive "battle of the appraisers," it now starts by attacking the associated receipts and appraisals.   When the paperwork does not conform precisely to statutory requirements, the result is no deduction at all.  In an effort to learn from the mistakes of others and preserve available tax benefits, this session will take a somewhat humorous look at the serious subject of how donors have lost substantial deductions by failing to follow technical rules for substantiating charitable gifts.  

 

Learning Objectives:

1. Understand the importance of receipts and appraisals under the charitable deduction rules.

2. Understand the minimum requirements for a proper gift receipt.

3. Assist donors in obtaining proper appraisals of non-cash gifts.

 

CFRE: Approved for 1 point
CAP: Approved for 1 PACE credit