Posts Tagged ‘Charity’


5 Reasons Taxpayers over Age 70 1/2 Should Make a Charitable Donation From Their IRA

The Tax Cuts and Jobs Act (“TCJA”) almost doubled the Standard Deduction. Beginning in 2018, Single filers can claim $12,000, Head of Household $18,000 and Married Filing Jointly $24,000. Additionally, the maximum amount that can be deducted for state and local income tax is $10,000.  Before this change, it was estimated that about 30% of taxpayers itemized their deductions. After this change it is estimated that about only 10% of taxpayers will itemize their deductions.

Individuals over age 70 ½ … Continue reading »


A Summary of the American Taxpayer Relief Act of 2012

 

The Federal Government avoided the Fiscal Cliff...Well, for now any way.

 

At the very last minute they passed the American Taxpayer Relief Act of 2012.  Here are some of the highlights:

 

 Income, Capital Gains and Qualifying Dividends Tax


Happy New (Tax) Year…Unlucky ’13?

 

The New Year’s celebrations are over.

It’s on to 2013.

Will this be unlucky 2013 for taxpayers?

We wrote earlier how there are 8 Reasons You Will Pay More Taxes in 2013…Guaranteed.

We also pointed out Why the Fiscal Cliff is Fiscally Irresponsible.

The reality is there will be tax increases.  How much they will be and who will pay them … Continue reading »


5 Reasons Donors Should Give Appreciated Property

Donors should give appreciated property to their favorite charity. Appreciated property is property whose Fair Market Value exceeds the cost basis.  Cost basis is generally what was paid for an item.


The Importance of Beneficiary Designations

When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago?  Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death.  You may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children since your retirement plan … Continue reading »