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Understanding Charitable Unitrusts
In this episode of West Michigan Philanthropy, Miller Johnson Attorney John T. McFarland, and Carolyn Kley Fanning, with Hillsdale College, discuss the ins and outs of Charitable Remainder Unitrusts (CRUTs).
CRUTs provide taxpayers with the opportunity to bypass capital gains taxes, increase income, and obtain a charitable income tax deduction. With higher Section 7520 rates, taxpayer donors are revisiting CRUTs as a way to reduce their tax burden, generate an income stream, and support their favorite charitable causes.
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By Miller JohnsonIn this episode of West Michigan Philanthropy, Miller Johnson Attorney John T. McFarland, and Carolyn Kley Fanning, with Hillsdale College, discuss the ins and outs of Charitable Remainder Unitrusts (CRUTs).
CRUTs provide taxpayers with the opportunity to bypass capital gains taxes, increase income, and obtain a charitable income tax deduction. With higher Section 7520 rates, taxpayer donors are revisiting CRUTs as a way to reduce their tax burden, generate an income stream, and support their favorite charitable causes.