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Happy National Tailgating Day! As we fire up the grill and hang up the pendants in prep for some college football, I figured today was the perfect day to explain where college sports ticket rights fall under the tax code. Why? Because the Tax Cuts and Jobs Act (TCJA), passed in 2017, made some major […]
All nonprofits can benefit from smart and targeted outreach to donors and potential donors. This is especially true when donors are increasingly demanding more options when giving. Long gone are the days when nonprofits can simply ask donors to write a check. Rather, current and potential donors want a wide menu of choices when it […]
When estate planning you’re answering many of the unknowns for the future by deciding to whom you want your stuff—your cash assets, real estate, personal property, physical body, to name just a few—to pass to and when. You also have to consider some tough topics about your own mortality and imagine a future for your loved […]
In the past I’ve written about specific “legal words of the day” where we take a deep dive into terms that can be confusing, misleading, or unknown. A few of the favorites? Breach of contract, subpoena, and inclusion rider. But, if you’re a word nerd like me, one word or phrase per blog post is […]
Did you know that April is National Volunteer Month? Celebrate and make an impact at the same time by donating your time, energy, and skills to the causes you care most about. However, unlike the charitable contribution deduction on federal income tax for cash and non-cash assets, the IRS does not count volunteering time as a […]
Much of Iowans’ wealth can be found in retirement benefit accounts, like IRAs, 401(k)s, 403(b)s, and so on. Funds from retirement benefit plans can be easy and tax-savvy ways for you to support your favorite causes and organizations! IRA Charitable Rollover The Individual Retirement Account (IRA) charitable rollover allows individuals aged 70.5 years of age […]
Your most valuable asset? Most would say their home. Could your home benefit your favorite charity? Yes, and with a retained life estate, you can give away your house, keep the keys, and get a current tax deduction. Under a retained life estate, the donor irrevocably deeds a personal residence or farm to charity, but […]
I was scrolling through Netflix the other night and finally landed on The Aviator, which I haven’t seen in a while. The 2004 Scorsese film starring Leonardo DiCaprio tells the story of the eccentric aviation magnate and movie producer, Howard Hughes, who tragically battled OCD, paranoia, and chronic pain (from a near-death plane crash) and spent […]
If you set a resolution to read more books this year, you’re in good company. Most of us could all read a little more. Luckily, January is, in my opinion, actually one of the best times to start a lasting reading habit. The days are short, snow blankets the ground, and nothing sounds better than […]
We’re taking a brief break from the details about the logistics of donation substantiation and the benefits of giving stocks to talk about one of my favorite subjects: books! The people of Iceland have a lovely tradition called jólabókaflóð where books are exchanged with loved ones on Christmas Eve and then a cozy night is […]