KPMG sees 2022 as being bigger than the banner year of 2021 for mergers and acquisitions. The easy access to capital, lower interest rates and a recovering global economy should send deal-makers looking for lucrative targets.1 This current economic environment makes Chief Counsel Advice 202152018 very timely. It addresses whether a pending merger should be …Read More
Think Charitably for Family and Charities … Sooner Rather Than Later
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5 Ways To Help You Start the New Year Strong
Here are a few simple things you don’t want to put off or overlook as you plan fundraising strategies for 2022. Encourage donors to plan gifts early to take advantage of tax benefits. Consider targeting certain donors for the most appropriate gifts for their demographic profile (income, wealth, age, etc.) and gift history. For example: …Read More
Getting Ready for 2022 – The Power of “No” and “One”
The power of “no” As December draws to a close, we know with certainty the Build Back Better (BBB) legislation will not be enacted in 2021. Senator Manchin’s recent “This is a no” comment suggests the likelihood of dramatic changes to the income and transfer tax for 2022 are also remote. While 2021 saw advisors …Read More
Too Clever by Half: Inheritance Agreements Wrapped in an LLC?
Some donors do not wish to burden their co-owners with the obligation of a purchase or the entity with a redemption. Other donors are concerned that a business interest could be sold or gifted into the unfriendly hands of a former spouse or a spendthrift beneficiary. Could a limited liability company (LLC) be structured to …Read More
What You Need To Know About Conduit Trusts
Much has been written about use of a testamentary charitable unitrust as a technique to mimic the deferral aspects permitted under pre-SECURE law. Before concluding whether or not such a statement is true, there needs to be understanding of how noncharitable trusts can be beneficiaries of an IRA account. Taxpayers sometimes create “look-through,” “pass-through” or …Read More
5 Ways To Show You Appreciate Your Donors (Beyond a Thank-You Note)
A donor’s impact on an organization is not only influential—it comes from a personal connection. Many donors give because they are passionate about the work and mission of your charity. Donors deserve appreciation for their generosity through a meaningful thank-you. Here are five impactful and creative ways to show your donors how much you …Read More
Noncharitable Trusts as a Source of Charitable Funds!
Section 642(c) of the Internal Revenue Code clearly describes the requirements for a trust to deduct any charitable distributions. A trust can deduct for “any amount of gross income, without limitation, which pursuant to the terms of the governing instrument is, during the taxable year, paid for a purpose specified in Section 170(c).” The trust …Read More
Flexible Deferred Gift Annuity in Retirement Planning
Donors and board members looking for new ways to support charity need look no further. The flexible deferred gift annuity offers several key benefits. First, charitable gift annuities allow unlimited contributions to enable a donor to meet current and future income needs. The IRS regulations limit contributions to IRAs, 401(k)s, 403(b)s and other retirement plans …Read More
Flexible Payments From Flexible Funding
A flexible gift annuity permits payments to be deferred until a commencement date of the annuitant’s choosing. A schedule of possible start dates with payment amounts is created when the annuity is funded. The longer the deferral of commencement, the greater the annuity payments. The income tax deduction will be based on either a set …Read More
Year-End Marketing: The Clock is Ticking
With Dec. 31 right around the corner, another calendar year is drawing to a close. Traditionally, the final quarter is the most generous time of the year for charitable giving. Many charitable organizations receive between one fifth and one quarter of their yearly gifts in December alone! In addition to your other fundraising activities, you …Read More