Here's how to get a full deduction for what someone else pays. When you give property to a charity, you are entitled to a deduction equal to the property's fair market value on the date of the gift.
Guess what? All those beautiful dollars in qualified plans (profit-sharing, 401(k), IRA and the like) may only be worth 10 cents to 30 cents each after taxes. That's because the IRS hits you with the three taxes: income (up to 40 percent), estate (up to 55 percent) and excise tax (always 15 percent when it applies).
