Forums Support Library CFP – Charitable Financial Planner Tax Savings Report


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    • Kathleen Reynolds
      Post count: 428

      The Tax Savings report illustrates how a Charitable Deduction is distributed over a period of years. The report shows the current year and the next five years, which is the maximum period allowed for distributions.

      Multiplying the Charity Type (50%, 30%, or 20%) and the Adjusted Gross Income calculates the amount of deduction taken annually from the trust.

      The report shows how much of the charitable deduction is used each year, as well as the annual tax savings generated from the charitable deduction.

      The Capital Gain is derived from the following formula:

      (FMV – Cost Basis) x Capital Gain Rate

      The bar graph shows an annual comparison of the income tax with and without the charitable trust.

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