IRA to Charity Contributions

For some time this unique method of making charitable contributions was a temporary provision of the tax law, but Congress made it permanent in 2016. This charitable contribution provision is limited to taxpayers age 70.5 and older. They can directly transfer up to $100,000 a year from their IRA to a qualified charity. So if…

Read More
How to Manage Student Debt

Regardless which major, the school attended or the degree obtained, college graduates typically have some amount of student loans they must pay back. According to a 2016 story in U.S. News and World Report, 70 percent of students graduated with student loans and the average graduate held $37,172 in student debt. College debt can range…

Read More
Do you have unrealized capital losses?

Since the stock market has done so well, fewer individuals are holding stock that has declined in value. If you do, consider selling it before the end of the year. The capital losses can offset any capital gains that you have plus an additional $3,000 can be used to offset other taxable income. Remember the…

Read More
Church & Clergy – End of the Year Tax Checklist

December is a very busy time for churches and clergy. Extra services, Christmas shopping and holiday parties can fill your schedule before you know it. The end of year is an important time of the year for financial/tax issues as well. Here are a few things churches and clergy should be thinking about as we…

Read More