Philanthropy

How much can I deduct for charitable gifts in my estate plan?

Charitable gifts in your estate plan can provide unlimited estate tax deductions when made to qualified organizations. During your lifetime, you can generally deduct up to 60% of your adjusted gross income for cash gifts to public charities, with unused deductions carried forward for up to five years. Estate gifts to charity reduce your taxable estate dollar-for-dollar, which can be particularly valuable if your estate exceeds the federal exemption threshold of $15,000,000.