Charitable giving
Notable 2024 Tax Law Changes
Each year brings adjustments to the US tax code, and this year is no exception. Some specific changes which could be helpful to you are as follows: Leftover funds in a 529 education account can now be rolled over into a Roth IRA. This reduces the concern about over-contributing to a child’s or grandchild’s 529…
Read MoreYear-end Charitable Gift Planning in 2021
In the last few years, so much has changed about charitable gift planning. We offer a bit of recent history on the changes, and suggest some strategies that may help you reduce your tax bill while supporting the charities of your choice. In 2018 the Tax Cuts and Jobs Act (TCJA) raised the standard income…
Read MoreYear-End Charitable Giving in 2020
The CARES Act passed last March creates some changes in the rules for charitable deductions in 2020, and some which may extend beyond the current tax year. In addition, there are a number of tax-efficient gifting strategies you may wish to consider, which we’ll be discussing below. Many charitable organizations are experiencing higher demand than…
Read MoreCharitable Gifts in the Current Tax Environment
The Tax Cuts and Jobs Act of 2018 made substantial changes to the tax code, and affected ability of many Americans to deduct charitable donations. Here are some strategies to help you maximize your tax savings while supporting organizations and causes that are important to you: Give something, get something Often we support a charitable…
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