Many people are looking to do tax deductible legal work and transferring of assets before year end. One of the most common practices is doing year end gifting of up to $13,000.00 per person with no gift or estate tax consequences. Some are looking to donate to charities within the calendar year, either directly or through legal vehicles, either as Charitable Remainder Trusts, Private Foundations, or through establishing a donor advised fund through an existing Community Foundation (or some other ways).
Tax related legal work done by the estate planning attorney may qualify for an itemized tax deduction you want to take in this year end.
What are some of the tax deductible charitable donations or deductible legal work you want to get done by December 31? Better hustle!