Charitable giving has long been a vital part of our socioeconomic system. The resources devoted to charitable activities through private philanthropy have fulfilled a variety of human needs that otherwise would not have been met. To encourage this philanthropy in the private sector, Congress granted favored tax treatment to charitable contributions by individuals, who are the principal source of charitable giving. This book outlines the tax considerations involved with the more important methods of making charitable gifts by individuals. The major emphasis is on income taxes, although estate and gift taxes and the generation-skipping transfer tax also are considered. Although tax rules that apply specifically to corporations are discussed briefly, this book places less emphasis on corporate giving than on individual giving.
