Taxable Liability for Love Offering/Severance Package

by David B
(Houston, TX)

Our church has unfortunately been forced to sell our property and we are in the process of dissolution.

Because our minister is in his early 70's, he is not inclined to seek future employment.

We were blessed with a significant capital return from the sale and have chosen to reward our minister for his 25 years of service.

Our research to date regarding the tax liability of any sort of remuneration has been confusing at best.

We are in search of answers as to some method or financial instrument in which to eliminate or at least minimize the tax liability of a gift of $100,000+.