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Charitable Donations

The time for tax-effective charitable giving may be now. As previously mentioned, many of you may no longer have enough charitable giving to exceed the new Federal standard deduction ($12,200 per taxpayer). Please keep this in mind. Use Your IRA First (70 ½ and older)...

Charitable Donations

Clients,The time for tax-effective charitable giving may be now. As previously mentioned, many of you may no longer have enough charitable giving to exceed the new Federal standard deduction ($12,000 per taxpayer). Please keep this in mind.Use Your IRA First (70 ½ and...

Donation Deduction

Based on pending tax reform this may be the last chance for some of you to itemize your deductions…maybe ever! The time for tax-effective charitable giving is now. Consult your GBE advisor for more details.Donation FactsIf you donate using credit card in December, but...

Year End Charitable Giving – Timing Is Everything!

Many people procrastinate to the end of December in making charitable gifts. As midnight on December 31st looms, your GBE advisors have been known to receive calls from anxious clients questioning how to make year-end gifts to their favorite charities and be assured...

Non-Cash Donations

Every tax season we hear the question: “I took some clothes and kitchen items to Goodwill, can I write that off?”If you itemize your deductions, that answer is yes.Valuing GoodsBy the time we meet for taxes it may be difficult to remember how many items you donated,...

Charitable Donations

The last month of the year is often a good time to plan final charitable contributions. The timing is helpful because you’re able to have a better estimate of income for the year compared to your donations/goals. It’s also helpful because the deduction, should you...