Distribution Nonprofit Tax Planning 
Cordant Wealth Partners
NOVEMBER 18, 2024
We also get you up to speed on the tax benefits of using a DAF. If you've heard of a DAF and are curious about incorporating it into your giving and tax planning strategy, this article is for you. Key Takeaways: Contributions to a donor-advised fund reduce your tax bill in the year your contribution is made.
Carson Wealth
MARCH 21, 2025
Theyre established to benefit charitable organizations, including educational or cultural institutions, community organizations, service organizations such as hospitals, and other nonprofits. Donations to endowment funds are tax-deductible, giving them a place in your overall financial management and tax plan.
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Carson Wealth
NOVEMBER 3, 2022
Use a qualified charitable distribution (QCD) from your individual retirement account (IRA). If you are age 70 ½ or older, you can transfer money from your IRA to a charity as a qualified charitable distribution (QCD), which makes it tax-free up to $100,000 ($200,000 if you file jointly).
Harness Wealth
APRIL 26, 2022
If you want to donate a certain amount to charity over a period of time, a donor-advised fund allows you to take the entire donation as a tax deduction in the first year, but then contribute to the charity over time. The charity just needs to be a registered nonprofit. Additionally, the funds in the account can grow tax-free.
Nerd's Eye View
JANUARY 31, 2024
This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges. This allows the account to grow on a tax-deferred basis, with income to beneficiaries being taxed when distributions are made.
Nerd's Eye View
AUGUST 23, 2023
Act, passed in December 2022, created the ability for individuals over age 70 1/2 to make a one-time Qualified Charitable Distribution (QCD) of up to $50,000 of IRA funds into a CGA, with the amount distributed to the CGA being excludable from the donor's taxable income. But the SECURE 2.0 legislation at the end of 2022.
Harness Wealth
FEBRUARY 4, 2025
Higher Capital Gains Tax Rate: Long-term gains from collectibles are taxed at 28%, higher than the maximum 20% rate for stocks and real estate. Charitable Donations: Donating collectibles to a qualified nonprofit can provide tax deductions based on fair market value. This article is a product of Harness Tax LLC.
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