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In this conversation, Dr. Jackie Meyer and Aleksander Dyo, Founder of Wealth Excel, of discuss the intricacies of charitable gift financing, a strategy that allows high-income earners to maximize their charitable contributions while minimizing tax liabilities. They explore the mechanics of the grantor's trust, the ideal clients for this strategy, and the legal validity of charitable gift financing. The discussion also addresses common myths surrounding charitable giving and emphasizes the importance of intentional philanthropy in legacy planning.
🔗 Connect with Aleksander Dyo
https://www.linkedin.com/in/aleksander-dyo
https://wealth-excel.com/
🔗 Connect with Dr. Jackie Meyer
Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa
Jackie on Instagram @jackiemeyerCPA
Jackie's work at https://www.jackiemeyercpa.com
This episode is brought to you by TaxPlanIQ:
https://www.taxplaniq.com
Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners.
Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives!
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Takeaways:
- Charitable gift financing has been around since 1978.
- The strategy allows for significant tax deductions on charitable contributions.
- Grantor's trusts provide asset protection and privacy for clients.
- Ideal clients are high-income earners looking for tax-efficient philanthropy.
- The strategy can be structured to minimize cash outflow during the client's lifetime.
- Clients can receive a tax deduction for the entire financed amount, not just the down payment.
- The process typically takes 45 to 60 days from start to finish.
- There are two stages of charitable giving: immediate and legacy giving.
- The strategy is validated by IRS rulings and has been tested under audit.
- Education is key to understanding and utilizing advanced charitable planning strategies.
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#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #CharitableGiftFinancing #WealthManagement #GrantorsTrust #Philanthropy #TaxDeductions #LegacyPlanning #FinancialServices #HighNetWorthIndividuals #TaxEfficiency
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