SiteLock
Find me @guntrust on most social nets. Banned from Facebook, LinkedIn, and NextDoor. Not banned from Twitter yet. Most active on Truth, Rumble, Gab and Telegram.
Fire at will:

Parthian shot. If a gift is held to be earmarked for an individual, not only does the donor lose the income tax charitable deduction, but also could be subject to the federal (and possibly state) gift tax on transfers to individuals (assuming it exceeds the $14,000 per donee annual exclusion).

ExceptionThe recent slaying of five Dallas police officers recalls a legislative exception to the earmarked-charitable-deduction-denial rule.Cash gifts made for the exclusive relief of the families of two slain New York police officers were allowable 2014 deductions if made between Jan. 1 and April 15, 2015.The law provided that the gifts were deductible even though the contributions were made to organizations that specifically benefited the families of Detectives Liu and Ramos.7

Source: Earmarked Gifts


If attacked, do you want to be Victor or Victim?
At
SacredHonor.US, we hate it when people die embarrassed.
And at
Protect.FM, we believe good estate plans protect families.
We make it easy for your family to attain the comfort of skill at arms.

David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning; licensed to practice law in the states of California and Washington. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and satellite offices in San Diego County (Coronado and Carlsbad).

© Protective Law Corporation as per date of publication captioned above. All rights reserved unless otherwise noted. Sharing encouraged with attribution and/or link to this page.



COMMENTS:

To comment on this post, look for it on our Facebook and Twitter pages.

Subscribe To Our Newsletter

FREE Estate Planning Webinars & News. FREE Trust Review. FREE Gun Training.

You have Successfully Subscribed!