Charitable Donations can save income tax and estate tax while helping a favorite organization..

Income Tax Savings for Charitable Gifts - If you want to support a favorite charity — and collect hefty tax deductions — consider giving away appreciated assets that you’ve owned for more than a year. You’ll avoid capital gains tax and get a tax deduction for your generosity. Further Information.....

Donating Life Insurance Policies Years ago, you may have purchased life insurance to protect minor children or your company in the event of your untimely death. Now, your business is thriving, your children are independent and you don't need the policy.   Yet if you simply drop it, you may be hit with a tax bill. One way around that is to name your favorite charity as irrevocable beneficiary — you can collect a sizable tax deduction for the charitable donation. Further Information.....