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
While most of us think of making donations to nonprofits in cash, there are other advantageous ways to support an organization. While it’s always a good time to be generous, there are some years you might find it even more beneficial to achieve a tax deduction. Donate valuable assets that aren’t cash.
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.
Carson Wealth
JANUARY 28, 2025
When you have the resources to make an impact, this type of planning helps you pinpoint what you want to accomplish for your family, community, and society. Steps to Setting Up a Philanthropy Fund Taking the proper steps in the beginning can give your charitable giving plan a solid foundation. Governance risk.
Nerd's Eye View
JANUARY 31, 2024
This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges. Under the new law, non-spouse beneficiaries (with few exceptions) must now withdraw the entirety of an inherited IRA within 10 years of the account owner's passing rather than over their own lifetimes.
Nerd's Eye View
AUGUST 23, 2023
In this guest post, Kathleen Rehl, a semi-retired financial advisor and educator now focusing on her own estate planning considerations, shares her experience with creating her "Legacy IRA" rollover to a Charitable Gift Annuity to support her chosen nonprofits after Congress passed the SECURE 2.0 legislation at the end of 2022.
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