Large Tax Bill? Consider Charitable Planning

When the thought of filing your income tax return brings you an intense feeling of dread, it may be time to consider leveraging charitable giving to purposefully mitigate your tax exposure during a high-income year. Charitable lead annuity trusts, private foundations, and donor advised funds are three legacy planning techniques which may help you to accomplish both your philanthropic and tax objectives. Charitable Lead Annuity Trust. A Charitable Lead Annuity Trust (CLAT) is an irrevocable trust that provides for a “lead” charitable interest in the form of an annuity payable to one or more charitable organizations, or a private foundation, for a fixed term of years.

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