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Securing a Better Retirement but Clouding Charitable Giving Incentives?

In late March, the U.S. House of Representatives passed the bipartisan Securing a Strong Retirement Act (SECURE 2.0). Presently, the bill is under review in the Senate, and changes are possible. There are a number of provisions that may either make it to the finalized bill or be considered again by a future Congress. Here …Read More

The Road to Hell Is Paved With Good Intentions and Burdened by Registration Fees

The next issue of Sharpe Insights will examine the tax consequences of crowdfunding for donors, donees and charitable recipients in the article “The Future Is Here for Cryptocurrency!” A recent out-of-court settlement agreement between the state of Minnesota attorney general and an online crowdfunding organizer reminds solicitors and funders of significant non-tax risks. A Noble …Read More

The Reporting Requirements of Aiding Those in Need Have Expanded

The IRS’s recent fact sheet reminds crowdfunding solicitors of their reporting obligations under the Internal Revenue Code. Crowdfunding is a web-based method of soliciting contributions from large groups of people. The solicitors of the funds are either organizers on behalf of other people or the beneficiaries themselves. The technique often is employed to assist those …Read More

Connecting Through Mobile Messaging

Work and personal preferences are changing. These days we expect instant access and information to our interests and hobbies–from exercise tips and sports scores to social causes and work being done by our favorite nonprofits. Our means of communication has evolved from face-to-face meetings and phone calls on a landline into Zoom chats and ordering …Read More

Unpleasant Surprise From Proposed Regulation for Non-Spousal Beneficiaries

The SECURE Act requires most non-spousal beneficiaries to draw down an inherited Roth or traditional IRA over a 10-year period without requiring a distribution during the first nine years after the death of the original owner.1 Certain “eligible designated beneficiaries,” such as a surviving spouse, disabled or chronically ill beneficiaries or a minor, are exempted …Read More

Who Really Wants To Be Average? “Mean”ingful Metrics

Often, Sharpe consultants are asked about various gift metrics, such as the average size of a major gift or bequest. Over the years, we have responded that the answer depends on many factors, including the age of the charitable organization and number of donors or members, as well as the donors’ ages, wealth and other …Read More

“If It Sounds Too Good To Be True … ”

You open up your iPhone and note an email from one of your supporters. He or she asks: “Is this advertisement legitimate?” The ad reads: Capital Gains Tax Eliminated CAPITAL GAINS tax legally eliminated on the Sale of Real Estate, Stocks, C-Corporations, S-Corporations, Livestock, Family Businesses and even if selling to family members without having …Read More

A Boom in Real Estate Fortunes

From Twitter to Instagram to TikTok, the web is exploding with regular people who have found ways to create fortunes in real estate. Whether by “flipping” houses utilizing the BRRR Method (Buy, Renovate, Refinance, Reinvest), creative financing or just adding one rental property, the past 10 years have provided a wealth-building opportunity for regular people to …Read More

“I Thought This Would Be a Simple Way To Give”

Your organization has been named a payable on death beneficiary of an investment account valued at more than $1.2 million. Your supporter assures the chief development officer this arrangement will be a probate-free way to support the organization. What might possibly delay receipt of the gift? It turns out, a lot!! The recently decided case …Read More

The “Five P’s” of Estate Planning

Though most people understand it’s important to ensure their long-term affairs are in order, many of your donors may not be sure where to start. Here are a few tips to share to ensure your donors’ plans reflect their wishes. Suggest the donor carefully consider their estate using the “Five P’s” of estate planning. People: Loved …Read More

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