Hey Buddy, Need a Tax Break?

 

If you would like to generate a significant tax deduction, consider giving away your house, but don't move out!

Many charities will work an agreement with you to take your house as a bequest when you pass away and yet provide you with the charitable deduction this year. You continue to live in your house for your lifetime, yet have the benefit of saving tax dollars this year (and possibly into future years). So if you have been thinking about a significant charitable contribution, this may be a painless alternative for making a contribution to your favorite charity(s). If you leave your house through your will or trust, you get no income tax savings. If you make the arrangement now, you could save tens of thousands of income tax dollars. That's money you can spend now.

Call and I can help you structure such an arrangement.