We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
More

In IR-2023-222, the Internal Revenue Service (IRS) reminded low-income and moderate-income taxpayers they could benefit from a "Saver's Credit" in 2024. The Saver's Credit allows individuals to contribute up to $2,000 to a retirement plan and receive a credit. The credit is also available to individuals who are a beneficiary of an Achieving a Better Life Experience (ABLE) account. The maximum credit is $1,000 for a retirement contribution of $2,000. The maximum credit amount is increased to $2,000 for a retirement contribution of $4,000 by a married couple. Taxpayers who are age 18 or older are eligible for the Saver's Credit if they are not claimed as a dependent on another individual's tax return and not a student. A student is defined as a person who was a full-time student or in a full-time training course for five calendar months during a tax year. The Saver's Credit is 50% of the initial income level, 20% for the next level and 10% for the 3rd level. The contribution of up to $2,000 may be to a traditional or Roth IRA, a 401(k), 403(b) or a governmental 457(b)...
More

GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
More

The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
View Presentation