Category: Professional Advisors

If you advise charitable clients in your practice, you are no stranger to the IRS’s requirements for substantiating charitable deductions.

In some cases, however, tax advisors and their clients are so focused on valuing the gift and filing the Form 8283 that they overlook the requirement for a “contemporaneous written acknowledgment.” And this can derail the deduction! It sure was for the taxpayers in Wells v. Commissioner, T.C. Memo. 2026-49, involving a claimed charitable deduction carryover stemming from a gift of Mississippi real estate to a nonprofit organization.

Retirement assets are becoming an increasingly important part of charitable planning. Americans hold more than $50 trillion in retirement accounts—nearly $20 trillion of which are held in IRAs. Meanwhile, the Great Wealth Transfer is underway, with more than $120 trillion expected to change hands over the coming decades.

It’s October! You are well aware of the calendar, of course, and so are your clients. You’ve also likely already begun reminding clients about year-end tax deadlines and important loose ends to tie up before 2027 hits. Remember, though, that memories are short, and just because you’ve already mentioned year-end deadlines doesn’t mean you should stop reminding your clients. Clients appreciate knowing that you are on top of their estate planning, tax planning, and financial planning priorities.

The community foundation team keeps an eye on trends, research, legislative developments, and thought leadership at the intersection of charitable planning, estate planning, and wealth management. Here are three recent articles we think are especially relevant for attorneys, CPAs, and financial advisors serving charitable clients.

As attorneys, CPAs, and financial advisors, you’re dedicated to helping charitable clients navigate technical planning opportunities ranging from donor-advised funds and Qualified Charitable Distributions to charitable trusts and gifts of complex assets. The community foundation is here to help, every step of the way!