embolden stock image.jpg

Creative Solutions

As your clients gear up for another year of giving, how can you help them make the most of their good intentions? Consider helping clients plan their charitable giving budgets around three points—amount, timing, and category. How much? That’s the $64 question. Likely more, depending on the client's budget. Something for clients to keep in mind when setting a budget for supporting favorite cause…

Read More
Corporate Stock Image_Embolden.jpg

Corporate Philanthropists Get Relief from SALT Cap on Charitable Donations

Businesses frequently make cash donations to charitable organizations. But what happens to the deductibility of those donations under the state and local tax limitations imposed by the 2017 tax law? This issue continues to be the subject of discussion, but your business clients should be encouraged by the IRS’s commentary. The IRS has taken the position that a business taxpayer can usually deduct …

Read More
woman-man-and-girl-sitting-on-snow-1620653.jpg

Giving Season with a Family Philanthropy Refresher

If you’re like most advisors today, you’re seeing an uptick in clients’ questions about charitable giving techniques that go beyond the nuts and bolts of tax law. Attorneys, accountants, and financial advisors hold trusted positions with philanthropic families to offer not only suggestions for tax planning in support of favorite causes, but also to be aware of perspectives that will make the chari…

Read More
Papers.jpeg

IRA Charitable Rollover Distribution to Create a Designated or Scholarship Fund

When available, donations from IRAs are one of the best charitable giving tools after tax reform. They completely avoid the standard deduction and give the donor a full dollar-for-dollar benefit. For federal tax purposes, qualified distributions up to $100K from an IRA made directly to charitable organizations are excluded from the owner’s gross income, if the distributions are made on or after t…

Read More
iStock_16837225_XXLARGE (1).jpg

“Bunching” Charitable Giving with a Donor Advised Fund

Most taxpayers won’t accumulate enough itemized deductions to exceed the new standard deduction. But if they plan deductions to be incurred over every other (or every third) year, they may periodically exceed the standard deduction and secure a tax benefit for their charitable donations in that “bunched” year. The key is pushing some deductions off to a future year and then, in that year, acceler…

Read More