We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
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During the recent Presidential election, both candidates supported the concept of removing taxes on tips. The One Big Beautiful Bill Act signed on July 4, 2025, created a tax deduction for up to $25,000 in tips for years 2025 to 2028. To qualify, the tips must be received as part of a business in which tips are customarily given to individuals. There is a limitation, however, on the amount of tips that qualify for the exclusion. If the taxpayer’s adjusted gross income exceeds $150,000 for a single filer, or $300,000 for joint filers, the deduction is phased out. The exclusion is reduced by $100 for every $1,000 of the excess amount. For example, a single filer with $200,000 income would have an excess amount...
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GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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