Donors over age 70 ½ might be interested in making a Qualified Charitable Distribution (QCD) from their IRA. That’s understandable. A QCD allows taxpayers age 70 ½ or older to exclude up to $100,000 from their taxable income each year. This has the benefit of reducing adjusted gross income (AGI). Qualified Charitable Distributions also count towards the annual required minimum …read more »
In our Client Stories series, we share how real DonorsTrust clients use their donor-advised funds in different ways to achieve their charitable goals both in life and after. This month we feature one such couple who has set up their fund as a bequest account using it to steward their charitable legacy. You can read last month’s feature here. …read more »
The end of the year isn’t the only time to make charitable gifts. In fact, it could be the worst time given that everyone else does it.
Still, whether because of bonuses, holiday cheer, or the intense marketing efforts of charities after Thanksgiving, a preponderance of folks cluster their giving as the year winds down.
Let’s embrace that. And since …read more »
If you read the popular press, you’ve probably read or seen headlines about the “bunching” strategy. This strategy has become increasingly popular as people adjust to the new standard deduction, which was doubled for tax years beginning with 2018. It’s a strategy that might be of particular interest if you are charitable and seek income tax minimization (don’t we all).…read more »
When formulating your estate, gift and income tax plan, first and foremost define your goals. If one goal is furthering your philanthropy, any of three broad planning categories, each with its own set of techniques and vehicles, are available to achieve a combination of your charitable, tax, and other financial goals.
The three broad categories of charitable planning techniques are …read more »
This month, our Client Stories series highlights a bequest client, Evan Scharf and how he and his wife Sue used their DonorsTrust donor-advised fund for planned giving. You can read the previous feature from a Novus client, Melanie Hildreth here.
Evan Scharf today can only speak through the legacy he left behind. He passed away in 2016, before his …read more »
This is latest installment in our Client Stories, a blog series that shares how our clients use their DonorsTrust donor-advised accounts in different ways to achieve their philanthropic goals. You can read the previous article from George and Marilyn Pearson here.
A client for over a decade, John spent many years in a major U.S. city’s tax and accounting …read more »
What if you would like to benefit charity, but the need for an income stream makes you hesitant to part with assets you might otherwise give?
Two charitable techniques are available that may meet your needs. One is a charitable gift annuity (CGA). The second is a charitable remainder trust (CRT). My previous post discussed CGAs. This post discusses …read more »
Once again, year-end has snuck up upon many of us. And this year, your approach to year-end philanthropy may change from previous years as a result of the 2017 tax overhaul.
Of course, many of the same year-end considerations continue to apply. Don’t despair. By acting quickly, time remains for some effective year-end giving.
The New Law’s Impact
Among the …read more »
What if you would like to benefit charity, but because you need the income stream they provide you aren’t comfortable parting with your assets? Two charitable techniques are available that may meet your needs. One is a charitable gift annuity (CGA). The second is a charitable remainder trust (CRT). This post discusses Charitable gift annuities; check back next month for …read more »