Have questions about tax law changes impacting charitable contributions? Key Conversations: Tax-Smart Charitable Giving Strategies Qualified Charitable Distributions (QCDs) Donor-Advised Funds Presenters: Darrell Tierney, CFP® CPA Matt Bellomo, CPA … [Read more...]
Recorded Webinar: Charitable Year-End Considerations
How does the tax strategy of deduction bunching work?
Deduction bunching The strategy of deduction bunching is aimed at shifting the timing of deductible expenses by bunching them together within the same year, to surpass the standard deduction amount. The goal is to time your deductions in such a way that you can itemize every few years, while … [Read more...]
Windward Passages: Charitable Gifting
What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count. There are several different types of property that can be donated … [Read more...]
Windward Tax Bulletin: Deduction Bunching and Donor-Advised Funds
The new year is here, bringing with it lots of snow for the Kansas City area and the start of another tax season. Despite the ongoing government shutdown, the IRS has announced the 2019 tax filing season will officially begin on January 28th. However, it won’t just be another year, another tax … [Read more...]
Windward Passages: Charitable Contributions from IRAs
The Pension Protection Act of 2006 first allowed taxpayers age 70½ and older to make tax-free charitable donations directly from their IRAs. By making a qualified charitable distribution (QCD) from an IRA directly to a qualified charitable organization, older IRA owners were allowed to exclude up to … [Read more...]