After the onslaught of Black Friday advertising and Cyber Monday announcements filling up your inbox, Giving Tuesday (December 3 this year) feels like a breath of fresh (wintery) air from the shopping rush. The “holiday,” often known by its social media tag of #GivingTuesday, is all about celebrating generosity and philanthropy. Giving charitably to your favorite organizations feels great and allows you to make a difference in your community, state, and the world. But, you also want to make sure your gift is legally compliant and beneficial, particularly for those who are “bunching” their donations to claim the charitable deduction on federal income taxes.
Before you donate on #GivingTuesday (or any other day) consider these legal tips:
Make Sure the Charity is Qualified
A charitable deduction can result in significant tax savings, but for that to occur, the donation must be made to a qualified 501(c)(3). While that may sound basic, some initiatives may look like nonprofits but actually operate as a business, not a tax-exempt organization. A little bit of research can go a long way here. First, read up about the organization in question online and don’t hesitate to call to speak to a representative. You can also use the IRS’ Exempt Organizations Select Check; limit the search to organizations eligible for tax-deductible charitable contributions.
(If your favorite organization is in need of assistance for obtaining tax-deductible status, don’t hesitate to reach out.)
Sufficient Documentation
Proper documentation is required in order to take the charitable contribution deduction for contributions of $250 or more. This means you need written acknowledgment that expresses the required info of the donee (charity), date of donation, and monetary amount. It’s your legal obligation as the donor to ask for the written acknowledgment, not the charity’s obligation to offer it.
Here’s a simple breakdown of what’s needed for specific types of giving-
Gifts of less than $250 per donee — you need a canceled check or receipt
$250 or more per donee — you need a timely written acknowledgment from the donee
Total deductions for all property exceeds $500 — you need to file IRS Form 8283
Deductions exceeding $5,000 per item — you need a qualified appraisal completed by a qualified appraiser
Need more info? I go into detail about appraisers in this blog post.
If you feel strongly about a specific program, region of operation, or use within the nonprofit, you’ll want to restrict the charitable donation. The restriction must be made in writing, at the same time as the donation is made.
Going Global
#GivingTuesday has expanded greatly since its founding in NYC to become a global event. You may hold a foreign-based charitable organization near and dear to your heart and, of course, you may give to that organization, however, your donation won’t qualify for a charitable tax deduction.
I work with my estate planning clients on defining their goals for their future and assets. The same baseline advice applies to charitable giving—what are your goals? Do the organizations you are donating to support your giving goals? Look at materials published by One way to gauge this is by reviewing the nonprofit’s annual information on its Form 990, “Return of Organization Exempt From Income Tax.” This form is intended for the public and includes important financial info. The IRS publishes Form 990 and it’s easy to check out the details on Guidestar, a nonprofit database.
If you have any questions on how to give charitably and do so wisely, don’t hesitate to reach out. Maximizing charitable giving in Iowa is the mission of Gordon Fischer Law Firm and we want to help as many Iowans give confidently as we can!
https://www.gordonfischerlawfirm.com/wp-content/uploads/2018/11/Black-Friday.-Cyber-Monday.-e1564631622908-1.png4501080Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2019-11-08 10:00:262020-05-18 11:28:42Giving Like a Rock Star: Legal Tips for Donors on Giving Tuesday
Thanksgiving weekend is chock full of traditions for families from parade watching and football playing to pie eating and Black Friday shopping. One less obvious activity you should add to the weekend roster is a discussion on estate planning. America’s second favorite holiday, where family and friends come together from near and far, to eat good food and spend quality time together is a prime opportunity to make sure your loved ones have a plan for the future in the case of unexpected death or incapacitation.
Now, I don’t recommend questioning your uncle if he has a living will over the turkey table. But, after the food coma wears off, gather your loved ones around in a comfortable spot and strike up a conversation about how estate planning is important for everyone. That includes your brother who has young kids, your mom who donates regularly to the local food bank, and even your cousins who are obsessed with their dogs…there’s a place in estate planning for all of them. Here are a couple tips to make the discussion a success as great as pumpkin pie.
The benefits of estate planning are numerous and estate planning can be tailored to meet each individual’s unique needs and goals. But, you don’t have to get too into the weeds. Leave that part to the estate planner who’s job it is!
If anyone needs convincing to get started on their estate plan ASAP, simply explain that estate planning is an opportunity to take action as opposed to passing the burden to family members to figure out what to do with their stuff, how to access important accounts/information, and slog through the tedious intestate probate process. Estate planning can create chaos and even incite litigation between heirs over the deceased’s estate. Just like Thanksgiving traditions create a lasting memory, estate planning is your opportunity to leave a lasting legacy.
Offer to Help
Estate planning can sound intimidating to someone who’s never gone through the steps before. Offer to help by recommending an experienced estate planning attorney they can trust.
Encouraging all the people you care about to articulate their wishes is truly something to be thankful for! If you or any of your loved ones want more information feel free to contact GFLF for a complimentary consult.
https://www.gordonfischerlawfirm.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-21-at-9.29.20-PM.png6851031Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2019-11-05 21:49:402020-05-18 11:28:42Start a New Thanksgiving Tradition: Talk About Estate Planning
We’re taking a momentary break from learning the ins and outs of estate planning, how to form a successful, compliant nonprofit, and how to practice tax-wise charitable giving for an important message brought to you by democracy…go vote! The 2019 General Election will be held November 5, 2019. This is the first time Iowa’s city and school elections are combined on the same day; in past years school elections were held in September. According to figures from the Iowa Secretary of State’s Office, there are a total of 2,780 different races across the state. Furthermore, 5,445 candidates are running for 4,920 different seats. Plus there are 149 public measures being voted on.
Voting seems simple, but there can rules surrounding the voting process that can make things confusing, or at least uncertain. To help out I’ve compiled a list of useful information. Share it with your friends, family, and colleagues and encourage them to cast their ballot!
Do I have to register to vote?
Yes. Registering to vote is a legally required in Iowa. The requirements you have to meet to register are:
Must be at least 17 years old, and be 18 years old by election day (or be 18 by the city/school election or general election vote in a primary election)
Must be a U.S. Citizen
Must be a resident of Iowa
Cannot be a convicted felon (unless your voting rights have been restored)
Cannot be judged mentally incompetent by a court of law
Cannot claim the right to vote in any other place
What’s the pre-registration deadline to register to vote?
The pre-registration deadline to register to vote was October 25. (For future reference, you can pre-register to vote online, by mail, or at your county auditor’s office.
What if I didn’t pre-register?
If you miss the pre-registration October deadline don’t worry because you can register in person at your polling place on Election Day. To do this you go to your polling place and must provide proof of ID and current residence within the precinct. (The documentation can be either electronic or paper.)
Acceptable documents for proof of ID include:
Iowa non-driver ID card
Out-of-state driver’s license or non-driver ID card
U.S. passport
U.S. military ID
ID card issued by an employer
Student ID issued by Iowa high school or college
Tribal ID
Acceptable documents for proof of residence include:
Residential lease
Utility bill (including a cell phone bill)
Bank statement
Paycheck
Government check or other government document
What if I want to register on Election Day but don’t have the proper documentation?
Even still, if you don’t have sufficient documentation on hand, you may still register if another registered voter, who lives in the same precinct, attests to your identity and residence via Election Day Registration documents. You and the attester will be required to sign an oath swearing the statements are true. (Note well that a false attestation for either party constitutes registration fraud and is considered a class “D” felony and is punishable by a fine of up to $7,500 and up to 5 years in prison.)
I’m unsure if I’m registered to vote in Iowa. How do I check?
Find your polling place by entering your zip code here. (The polling place data on the Iowa Secretary of State page is for regularly scheduled Primary, General, School and City Elections. The data is provided by county auditors through the statewide voter registration database.)
Can I vote early or absentee?
Definitely! There are three ways to vote by absentee ballot if you are registered to vote in Iowa.
https://www.gordonfischerlawfirm.com/wp-content/uploads/2018/10/Screen-Shot-2018-10-14-at-12.37.23-AM.png6971051Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2019-11-03 20:51:332020-05-18 11:28:42GFLF Wants YOU to Go Vote in Iowa!
Giving Like a Rock Star: Legal Tips for Donors on Giving Tuesday
Charitable Giving, Events, NonprofitsAfter the onslaught of Black Friday advertising and Cyber Monday announcements filling up your inbox, Giving Tuesday (December 3 this year) feels like a breath of fresh (wintery) air from the shopping rush. The “holiday,” often known by its social media tag of #GivingTuesday, is all about celebrating generosity and philanthropy. Giving charitably to your favorite organizations feels great and allows you to make a difference in your community, state, and the world. But, you also want to make sure your gift is legally compliant and beneficial, particularly for those who are “bunching” their donations to claim the charitable deduction on federal income taxes.
Before you donate on #GivingTuesday (or any other day) consider these legal tips:
Make Sure the Charity is Qualified
A charitable deduction can result in significant tax savings, but for that to occur, the donation must be made to a qualified 501(c)(3). While that may sound basic, some initiatives may look like nonprofits but actually operate as a business, not a tax-exempt organization. A little bit of research can go a long way here. First, read up about the organization in question online and don’t hesitate to call to speak to a representative. You can also use the IRS’ Exempt Organizations Select Check; limit the search to organizations eligible for tax-deductible charitable contributions.
(If your favorite organization is in need of assistance for obtaining tax-deductible status, don’t hesitate to reach out.)
Sufficient Documentation
Proper documentation is required in order to take the charitable contribution deduction for contributions of $250 or more. This means you need written acknowledgment that expresses the required info of the donee (charity), date of donation, and monetary amount. It’s your legal obligation as the donor to ask for the written acknowledgment, not the charity’s obligation to offer it.
Here’s a simple breakdown of what’s needed for specific types of giving-
Need more info? I go into detail about appraisers in this blog post.
Restrict in Writing
If you feel strongly about a specific program, region of operation, or use within the nonprofit, you’ll want to restrict the charitable donation. The restriction must be made in writing, at the same time as the donation is made.
Going Global
#GivingTuesday has expanded greatly since its founding in NYC to become a global event. You may hold a foreign-based charitable organization near and dear to your heart and, of course, you may give to that organization, however, your donation won’t qualify for a charitable tax deduction.
Background Research
I work with my estate planning clients on defining their goals for their future and assets. The same baseline advice applies to charitable giving—what are your goals? Do the organizations you are donating to support your giving goals? Look at materials published by One way to gauge this is by reviewing the nonprofit’s annual information on its Form 990, “Return of Organization Exempt From Income Tax.” This form is intended for the public and includes important financial info. The IRS publishes Form 990 and it’s easy to check out the details on Guidestar, a nonprofit database.
If you have any questions on how to give charitably and do so wisely, don’t hesitate to reach out. Maximizing charitable giving in Iowa is the mission of Gordon Fischer Law Firm and we want to help as many Iowans give confidently as we can!
Start a New Thanksgiving Tradition: Talk About Estate Planning
Estates & Estate Planning, Wills, Trusts & EstatesThanksgiving weekend is chock full of traditions for families from parade watching and football playing to pie eating and Black Friday shopping. One less obvious activity you should add to the weekend roster is a discussion on estate planning. America’s second favorite holiday, where family and friends come together from near and far, to eat good food and spend quality time together is a prime opportunity to make sure your loved ones have a plan for the future in the case of unexpected death or incapacitation.
Now, I don’t recommend questioning your uncle if he has a living will over the turkey table. But, after the food coma wears off, gather your loved ones around in a comfortable spot and strike up a conversation about how estate planning is important for everyone. That includes your brother who has young kids, your mom who donates regularly to the local food bank, and even your cousins who are obsessed with their dogs…there’s a place in estate planning for all of them. Here are a couple tips to make the discussion a success as great as pumpkin pie.
Give the Best Advice at the Table
No one around the family table should be to disclose who they have named as heirs. That could be awkward depending on who’s in the room. (However, discussing your donative intentions should happen privately with beneficiaries and fiduciaries included in your estate plan.) But, you should pass along the great advice that estate plans should be reviewed at least annually and always after a major life event like a birth, death, marriage, divorce, or moving across state lines.
Explain Why Estate Planning is Essential
The benefits of estate planning are numerous and estate planning can be tailored to meet each individual’s unique needs and goals. But, you don’t have to get too into the weeds. Leave that part to the estate planner who’s job it is!
If anyone needs convincing to get started on their estate plan ASAP, simply explain that estate planning is an opportunity to take action as opposed to passing the burden to family members to figure out what to do with their stuff, how to access important accounts/information, and slog through the tedious intestate probate process. Estate planning can create chaos and even incite litigation between heirs over the deceased’s estate. Just like Thanksgiving traditions create a lasting memory, estate planning is your opportunity to leave a lasting legacy.
Offer to Help
Estate planning can sound intimidating to someone who’s never gone through the steps before. Offer to help by recommending an experienced estate planning attorney they can trust.
Pass Along Something Tangible
Want to pass along something beyond just words? You can also share this handy dandy checklist and free, no-obligation Estate Plan Questionnaire.
Encouraging all the people you care about to articulate their wishes is truly something to be thankful for! If you or any of your loved ones want more information feel free to contact GFLF for a complimentary consult.
GFLF Wants YOU to Go Vote in Iowa!
From Gordon's Desk...We’re taking a momentary break from learning the ins and outs of estate planning, how to form a successful, compliant nonprofit, and how to practice tax-wise charitable giving for an important message brought to you by democracy…go vote! The 2019 General Election will be held November 5, 2019. This is the first time Iowa’s city and school elections are combined on the same day; in past years school elections were held in September. According to figures from the Iowa Secretary of State’s Office, there are a total of 2,780 different races across the state. Furthermore, 5,445 candidates are running for 4,920 different seats. Plus there are 149 public measures being voted on.
Voting seems simple, but there can rules surrounding the voting process that can make things confusing, or at least uncertain. To help out I’ve compiled a list of useful information. Share it with your friends, family, and colleagues and encourage them to cast their ballot!
Do I have to register to vote?
Yes. Registering to vote is a legally required in Iowa. The requirements you have to meet to register are:
What’s the pre-registration deadline to register to vote?
The pre-registration deadline to register to vote was October 25. (For future reference, you can pre-register to vote online, by mail, or at your county auditor’s office.
What if I didn’t pre-register?
If you miss the pre-registration October deadline don’t worry because you can register in person at your polling place on Election Day. To do this you go to your polling place and must provide proof of ID and current residence within the precinct. (The documentation can be either electronic or paper.)
Acceptable documents for proof of ID include:
Acceptable documents for proof of residence include:
What if I want to register on Election Day but don’t have the proper documentation?
Even still, if you don’t have sufficient documentation on hand, you may still register if another registered voter, who lives in the same precinct, attests to your identity and residence via Election Day Registration documents. You and the attester will be required to sign an oath swearing the statements are true. (Note well that a false attestation for either party constitutes registration fraud and is considered a class “D” felony and is punishable by a fine of up to $7,500 and up to 5 years in prison.)
I’m unsure if I’m registered to vote in Iowa. How do I check?
Search your status here.
Speaking of polling place, where do I vote?
Find your polling place by entering your zip code here. (The polling place data on the Iowa Secretary of State page is for regularly scheduled Primary, General, School and City Elections. The data is provided by county auditors through the statewide voter registration database.)
Can I vote early or absentee?
Definitely! There are three ways to vote by absentee ballot if you are registered to vote in Iowa.
Iowans living overseas can register to vote and request an absentee ballot in one step.
Can an Iowan still vote if they have a guardian or conservator?
Questions? Any information you think other readers should know? Feel free to contact me!