November 4th, 2019

Reap Tax Benefits From Giving with a Qualified Charitable Distribution

Montgomery County residents overall tend to be generous people, with the average person donating between three percent and five percent of his or her income to charitable causes each year. However, changes to federal tax law in 2017 that can make it less advantageous tax-wise to make charitable contributions were one factor that led to … Continue reading “Reap Tax Benefits From Giving with a Qualified Charitable Distribution”

June 13th, 2019

Gifts- Taxable or Not?

In Clark Kendall’s book, Middle-Class Millionaire: Surprisingly Simple Strategies to Grow and Enjoy Your Wealth, chapter 18 explains “Planned Giving” and walks through best practices of gifting. Below is a story about Rich and Barbara and real-life examples of how to gift efficiently. Rich is a retired film stuntman who, after a long career, is … Continue reading “Gifts- Taxable or Not?”

April 22nd, 2019

When Should You Consider an IRA Charitable Rollover?

Have you ever wanted to make a major charitable gift? Would you like a federal tax break in acknowledgment of that gift? If so, an IRA charitable rollover might be a good option. If you are age 70½ or older and have one or more traditional IRAs, you may want to explore this tax provision. … Continue reading “When Should You Consider an IRA Charitable Rollover?”