Estate Taxes & Gift Taxes Legal Terms and Legal Words. Tax Law Terminology

charitable contributions

A gift made by either a person or a legal entity to benefit charity. To deduct any charitable donation of money, regardless of amount, a taxpayer must have a bank record or a written communication from the charity showing the name of the charity and the date and amount of the contribution. Donations of money include those made in cash or by check, … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law

donation

A gift made by either a person or a legal entity to benefit a third party. Usually it is for the benefit of a church, schools, educational institutions, theaters, hospitals. Donation may be given as money, or household items, or in the form of services. Donations of money include those made in cash or by check, electronic funds transfer, credit card, and … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law

donee

n. a person or entity that received an outright gift or donation. Most popular donees are hospitals, theaters, schools. … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law

donor

n. a person or entity making a gift or donation. … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law

eleemosynary

relating to, or supported by charity source: Merriam-Webster Dictionary. … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law

endowment

a transfer of money to a fund (trust) with the aim of investing the money and keeping the principal intact forever or for a definite period of time. The most famous and successful endowments are Harward Fund and Yale endowment fund. … Full Definition »

Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law