Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. Would You Prefer a Charitable Deduction This Year? … [Read more...] about Would You Prefer a Charitable Deduction This Year?
Donor Advised Funds
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the … [Read more...] about No Charitable Deduction in 2018?
People who would like to include ongoing charitable contributions as a part of their legacy are making an admirable choice, but how do you go about doing that? Who is going to have the time to manage a fund and decide who to donate money to each year? The family foundations of the ultra-wealthy serve this purpose, but they are costly to administer and simply inappropriate for most of us. So what is the solution, how do you arrange to make ongoing charitable contributions without creating your … [Read more...] about Donor Advised Funds Explained