Sadly, rarely does a month go by without the news of another disaster or humanitarian tragedy. Most recently, the Maui fires and Hurricane Idalia are making the headlines–and also generating widespread charitable support. Indeed, many of your clients are no …
Our Reading Selections
Giving is down, but the total amount-–nearly $500 billion—is still impressive Just reported in June by Giving USA was a rare decline, 3.4%, in charitable giving by Americans in 2022. Though giving totaled nearly $500 billion, officials cited high inflation …
How “catch-up” contributions can boost clients’ giving
At Cobb Community Foundation (CCF), we regularly work with legal, financial, and tax advisors like you to help clients reach their charitable goals.
As a professional who regularly works with charitable clients, you are no doubt well aware of the …
Advising clients about AI’s impact on charitable giving
News about the capabilities of artificial intelligence has skyrocketed over the last few months. As attorneys, accountants, and financial advisors, no doubt you are watching these developments closely, both because of the potential legal issues involved and also because of …
Summer topics worth watching
Proposed legislation known as the Charitable Act appears to be gaining momentum. The bill calls for making available a “below the line” deduction to taxpayers who do not itemize on their tax return. This proposed deduction is slated to reach …
Gifts of cash or stock: Is it a toss up?
As your philanthropic clients can likely attest, the going has been rough for many of the nonprofit organizations they support. Turbulent economic conditions, concerns about inflation, and challenges in the banking sector are just a few of the factors that …
QCDs: Clearing up confusion
If you’ve been involved with Cobb Community Foundation for a while, you’ve likely heard of the Qualified Charitable Distribution (“QCD”) because we mention it a lot. And with good reason!
If you are aged 70 ½ or older, it is …
Retirement plans to charity: Understanding the “trifecta” of tax benefits
Over the last few months, many advisors have noticed an uptick in client inquiries about leaving their IRAs and other retirement plans to charity. If you’re wondering why, it likely has a lot to do with the buzz about Qualified …
Tax scrutiny: Should clients worry about the IRS’s bigger budget?
A major portion of the $80 billion scheduled to be invested in Internal Revenue Service upgrades is earmarked to “increase tax compliance among wealthy taxpayers and businesses,” according to the IRS’s plan. Indeed, the IRS is investing upwards of $47 …
Boiling down the alphabet soup: What actually are RMDs and how do they relate to QCDs?
If you get cross-eyed when you start reading about Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs), you are not alone! And, given the December 2022 passage of SECURE 2.0 legislation, changes to RMD rules are especially important to …
