Making Cents: The Tax Consequences of Significant Gifts

By: John P. Napolitano, CFP®, CPA, PFS, MST

As summer settles in and families spend time together, many think about making gifts to charities or loved ones as a part of shedding assets in their estate or simply sharing the wealth. This could be for estate tax planning, the fear of loss through a long term illness or simply for philanthropic purposes.  Here we are going to discuss a few ways that high net worth taxpayers can utilize their wealth for the next generation now rather than after they pass..

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Making Cents: Vet charities before you donate

By: John P. Napolitano, CFP®, CPA, PFS, MST

This time of year we all receive those same email, telephone or direct mail solicitations from a charitable organization asking for a donation to support a needy group. It isn’t easy to say no as the solicitors are well trained at pulling your heart strings to get you to open up your wallet. But a better plan is a thoughtful approach to philanthropy to avoid knee jerk reactions based solely on emotion.

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