{"id":3275,"date":"2019-10-05T16:11:53","date_gmt":"2019-10-05T16:11:53","guid":{"rendered":"https:\/\/www.rimonlaw.com\/?p=3275"},"modified":"2021-07-08T18:51:09","modified_gmt":"2021-07-08T18:51:09","slug":"pass-through-and-charitable-deductions-explained","status":"publish","type":"post","link":"https:\/\/www.rimonlaw.com\/pass-through-and-charitable-deductions-explained\/","title":{"rendered":"Pass-Through and Charitable Deductions Explained"},"content":{"rendered":"

Rimon’s Brent Nelson co-writes an article on pass-through and charitable deductions.\u00a0An overview of how these two deductions function, with an eye toward stacking their benefits.<\/p>\n

The Pass-Through Income Deduction under Code Section 199A (199A Deduction) allows taxpayers to deduct up to 20% of their pass-through business income. However, the deduction is either eliminated or limited when a taxpayer\u2019s taxable income exceeds certain thresholds. Despite this limitation, charitably inclined high earners can stack tax savings by strategically making charitable gifts to push their taxable income below the 199A Deduction thresholds. This mechanism allows the taxpayer to receive both a federal income tax charitable deduction (Charitable Deduction) and the full 199A Deduction. The taxpayer has two primary options for making strategic charitable gifts, which we’ll address in an upcoming article. First, we’d like to give a quick overview of how these two deductions function.\u00a0Read the full article.<\/a><\/p>\n

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Brent Nelson<\/a>\u00a0assists U.S. and international individuals, families and financial institutions in tax, estate planning and family business matters. In addition, he frequently speaks and writes on estate and tax developments. Brent develops estate plans in a wide variety of circumstances, from basic estate plans to complex plans for high net worth individuals and families. He also assists them with related business succession and charitable goals.\u00a0For high net worth clients, he uses sophisticated tax planning techniques involving irrevocable trusts, life insurance, private foundations and family limited partnerships. Other lawyers often engage Brent to help their clients in complex planning.\u00a0Read more.<\/a><\/p>\n

Attorney Advertising. This document is not intended to be and is not considered to be legal advice. Transmission of this document is not intended to create, and receipt does not establish an attorney-client relationship. Prior results do not guarantee a similar outcome.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Rimon’s Brent Nelson co-writes an article on pass-through and charitable deductions.\u00a0An overview of how these two deductions function, with an eye toward stacking their benefits. The Pass-Through Income Deduction under Code Section 199A (199A Deduction) allows taxpayers to deduct up to 20% of their pass-through business income. However, the deduction is either eliminated or limited…<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[1291,34,468,62],"ppma_author":[2085],"acf":[],"yoast_head":"\nPass-Through and Charitable Deductions Explained - Rimon Law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rimonlaw.com\/pass-through-and-charitable-deductions-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pass-Through and Charitable Deductions Explained - Rimon Law\" \/>\n<meta property=\"og:description\" content=\"Rimon’s Brent Nelson co-writes an article on pass-through and charitable deductions.\u00a0An overview of how these two deductions function, with an eye toward stacking their benefits. 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