Connecticut Charitable Giving & Philanthropic Planning Attorney
Charitable Giving & Philanthropic Planning Lawyer in Greenwich, Stamford,
Darien, Westport, Fairfield, Trumbull, New Haven and Milford
While it is generally thought that charitable contributions are tax deductible,
it should be noted that there are many exceptions. You do not want to
donate far more than you normally would only to find that it is not deductible.
It is wise to get advice from a professional before making significant
donations. You are urged to contact a Fairfield County estate planning
lawyer for advice on charitable giving.
Charitable and Philanthropic Giving
To get the benefit of charitable giving you need to itemize your deductions.
If your deductions do not exceed the standard deductions of $5,800 for
singles and $11,600 for filing jointly, you may want to take the standard
deductions. You need to keep good records of all your charitable donations.
Documentation requirements get stiff as the value of the item increases.
For instance if you are going to donate an item worth over $5,000, you
must get a written appraisal no earlier than 60 days before the donation
is made and it must not only be signed by the appraiser, but by the party
receiving the item.
There are also limitations on how much of your adjusted gross income you
can deduct. However, if you do make a large donation, you may be able
to take off the disallowed portion over the next five years.
Charitable Giving & Philanthropic Planning Lawyer in Fairfield County
Massih Law, LLC, I provide guidance to clients making charitable donations throughout
Fairfield County and New Haven County including, but not limited to, Greenwich,
Stamford, Darien, Westport, Fairfield, Trumbull, New Haven and Milford.
I, John N. Massih, am experienced in evaluating how much of a particular
donation can be deducted. My purpose is to help clients to plan philanthropic
giving so that it is accorded the maximum deduction. I invite you to contact
me so that we can discuss your wishes regarding charitable giving and
Contact a Connecticut Charitable Giving & Philanthropic Planning Attorney
for guidance regarding your charitable giving plans.