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Following the murder of George Floyd in Minneapolis on May 25th, our country has entered a period of civic unrest unlike anything we have seen before. As the Black Lives Matter movement continues to gain traction, many find themselves asking – how can I help? One of the best ways to support any cause you are passionate about is through charitable giving.
Whether or not you are financially secure during this time, we are all feeling anxious as the COVID-19 situation continues to unfold. Those still employed worry about exposure to the virus, while those now working from home are dealing with the difficulties of a remote office. Still, if your income has not been negatively affected by the current pandemic, there are some things you can do to turn this situation to your advantage.
People often think about charitable giving towards the end of the year, but it might actually be better to start your planning now! The way in which you choose to give can have a big impact on the charity and your taxes. If you are currently taking or will be required to take IRA distributions, read on.
Those who give shall receive tax deductions. There are a few different ways of donating to charity and receiving a benefit, even if you do not itemize your deductions. In this article, we will discuss how this is possible.
As we head towards the end of 2018, tax planning is a topic of increasing importance to many people. One question that comes up particularly often, especially in this time of changing tax laws, is “How can I lower the amount of taxes I owe?” If you’ve been taking required minimum distributions (RMDs) from an IRA, a qualified charitable distribution (QCD) may be just the thing for you.
With the holiday season and year end approaching, charitable giving is definitely on our radar. But how can we help charitable causes in a tax-smart way? Setting up a Donor Advised Fund or a Charitable Remainder Trust can be just the thing to help you gift wisely this year.
