Charitable Remainder Trust
Hi,
I am considering setting up a Charitable Remainder Trust through which I am told that I can get benefit of Income Tax Deduction and Estate Tax Benefit apart of satisfaction of donating my property to a good cause.
Though I am clear with the Estate Tax Benefit, I am unable to figure out how the Income Tax Deduction is calculated. Can any one of you explain the calculation process involved in the same. Heard there is a Applicable Federal Rate(AFR) that will be used but not able to figure out how to calculate using the same.
Many thanks for your help.
Best Regards,
Dilip.