Taxes and Holiday Gift Giving
The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits.
The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits.
Excerpt: Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate D.J. Barker, CWS®, and Associate Giuliana Barbagelata, CFP® to provide advice for a couple of investors who are fortunate enough not to need all their required minimum distributions from their retirement accounts for living expenses. D.J. and Giuliana explain how they can direct that money to their favorite charitable organization and still receive tax benefits.
John Dickson, CPA, CVA, CFP®, Tax Partner with Henssler CPAs & Advisers, joins Chief Investment Officer Troy Harmon, CFA, CVA, and Senior Associate Logan Daniel, CFP®, CRPC®, to discuss Georgia tax credits that allow taxpayers to direct their tax money to causes they care about.
Henssler Financial reaffirms its commitment to investing in others with the addition of an eight-station mobile laundry trailer for incident response foundation ServeComm, which can be used remotely in areas hit by severe weather or other natural disasters.
Between sites like GoFundMe, Kickstarter, and Indiegogo. each has its own charges, limitations, and withdrawal processes. Furthermore, both the IRS and the SEC are closely watching the taxability of the money raised.
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Peter Lynch to discuss an investor who wants to direct her significant inheritance to charity by creating a lasting legacy.
Senior Associate Michael Griffin, CFP®, Senior Financial Planner Josh Weidie, CWS®, and Chief Investment Officer Troy Harmon, CFA, CVA, provide advice for a couple of investors who have a highly appreciated asset that they want to reinvest now after watching it lose around 20% this year.
A donor-advised fund is a powerful philanthropic tool that allows you to donate assets when it’s most tax-efficient. When you see a meaningful opportunity, you are able to provide grants to any active, qualified charitable organization.
Charitable contributions are not always cash donations. They can take many forms. We look at the issues a taxpayer may encounter related to non-cash contributions.
With the end of the tax year just around the corner, tax-savvy individuals need to take some time from their busy schedules to review the tax planning steps they’ve already taken and see what else they need to do.