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Tax Rate Uncertainty Complicating Choices for Donors Planning Large Gifts

Friday, October 26, 2012
High-income households looking to make charitable contributions in the coming months face a tough decision over whether to make their gifts in 2012 or wait until early 2013 because of uncertainty about top tax rates, tax professionals tell BNA. Tax planning in a typical year is already complicated, but the strong possibility that top tax rates will return to 39.6 percent at the same time that a new 3.8 percent surtax on unearned income goes into effect is inserting several new variables into the planning process. These are leading to disagreement among experienced tax professionals on the best advice to offer.