The last email discussed the SDIS and when it is a strategy to consider. Now I’ll list a few characteristics of the CIBS or Charitable Installment Bargain Sale and when it may be applicable for your situation.
* You have a charity that you want to contribute a portion of your sale proceeds to in order to support their cause. This is the single most important reason as it is with all the charitable strategies
* Your charity is willing and able to take on the responsibility and the obligation of handling the asset sale and setting up their own administration for making the installment payments to you over the time agreed
* Your charity is well established and a valid and well funded 501(C)3 in good standing
Your charity will protect your portion of the proceeds preferably separate from their general accounts in an investment that has principle protection to avoid future loss
* You have need of a large tax deduction to offset ordinary income and you realize the limitations of the IRS for annual maximum deductions
* You want to control the amount going to charity and be assured of the amount being returned over time
* You want to be able to spread out the repayment of the remainder of the taxes due over time and create an income stream for yourself.
If these reasons closely resemble your desires for the proceeds, and you have a current sale pending, fill out the Confidential Questionnaire at http://www.savegainstax.com/ and I will contact you to discuss further.
Paula Straub
760-917-0858
savegainstax@gmail.com
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