Why a Charitable Trust is the Perfect Way to Avoid Capital Gains Tax
Charitable trusts are a smart approach for anyone seeking to increase philanthropy while simultaneously lowering their tax burden. You can give more to your desired charity without worrying about a high tax bill on a sale of assets: rental property, second home, a business or similar event.
Charitable trusts allow you to move assets to a trust that you can direct for the good of a charitable organization. The assets are protected against capital gain taxes, allowing there to be more assets to produce income. You can direct the income to yourself, family or others while the asset base continues to grow.
These contributed assets might be rental properties, private residences, or business holdings.
Since 1969, tax code has allowed capital gains to be split or redirected to good causes, reducing your level of taxation.
3 Trustworthy Charities to Help Those Affected by Hurricanes
5 Steps to Making Your Fundraiser a Success
Your charitable foundation cannot do good work without the support of the community. Organizing a formal fundraising gala or dinner can help engage your neighbors, support a specific cause, raise awareness about the work, and raise a significant amount of money. Planning and executing a large, formal event takes a lot of work, and it can be difficult to know where to start. In this article, we walk you through the process from the initial stages of planning the black-tie affair to completion of the fundraiser. Continue reading to learn more.
The Foundations that Spearhead Global Innovation and Improvement
More than 1.5 million nonprofit organizations are registered in the United States. While each charity does good in its own way, some foundations have risen above the rest to have a significant impact on lives throughout the world. It’s easy to lose sight of some of the great accomplishments achieved through charity, so take a moment to reflect on how these foundations have influenced science, health, and social change across the globe.
Here are a few Tips on vetting the organizations spending your money.
Philanthropic giving is a source of joy to many people. However, nothing sours that joy quite like learning that your contribution is not being used as promised. With so many charities to choose from, it’s important to identify the nonprofits that will use your money efficiently and for a truly good cause so that you don’t risk your charitable donation falling into the hands of those who would misuse it.