Tuesday, September 05, 2006

USNews.com: New tax rules on gifts

USNews.com: New tax rules on gifts: "The New Rules on Gifts
Uncle Sam wraps some pretty packages of tax breaks that should ease giving to both family and charity

By Paul J. Lim

Posted Sunday, September 3, 2006

When he reached into his wallet earlier this year and peeled off more than $30 billion for charity, Warren Buffett instantly became the poster child for philanthropy in America. He also cast a giant spotlight on giving.

But well before the world's second-richest man agreed to donate the bulk of his personal fortune to the Bill and Melinda Gates Foundation, everyday Americans like Jim Appino were quietly finding their own ways to make charitable gifts while simultaneously taking care of their own kids and grandkids."
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