December 12, 2012, 8:49 am
High earners are rushing to put money into donor-advised funds to lock in charitable deductions at current rates as Congress and the White House weigh changes in tax breaks for giving, according to The Wall Street Journal.
Such funds allow users to take a full tax write-off on lump-sum contributions but put off distributing the money to charity for years to come. Financial advisers say limits on charity deductions being considered as part of the ?fiscal cliff? budget talks are nudging clients to consider the vehicle, and one large donor-advised fund, Schwab Charitable, said it has seen a 75-percent increase in contributions this year.
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