Charitable Contribution Limits
Jul 3, 2019
Among the big changes in the 2017 Tax Cuts and Jobs Act (TCJA) were new limits on standard and itemized deductions. These limits and restrictions created new hurdles when planning deductions with tax advantages in mind. An exception was charitable deduction, which remains an option for high-income individuals looking to create a donation for the charity of their choice.
When making a charitable donation, two avenues to consider are donor-advised funds (DAFs) and private foundations (PFs).
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Tags: Certified Financial Advisor Charlotte NC, Tax Advantages
Can an IRA Be a College Savings Vehicle?
Jun 28, 2019
An IRA is a retirement savings account, right? Indeed. IRA stands for Individual Retirement Arrangement. Even with that definition, however, there is no prohibition on using an IRA to save for other purposes, such as funding a college education.
Why would anyone choose an IRA as a college savings vehicle? At first glance it may seem strange, since there are other types of investment accounts specifically dedicated to that objective. On closer inspection, though, IRAs (especially Roth IRAs) present some features that may be quite attractive to the parent or grandparent who wants to build education savings.
Parents are urged to save for their children’s college education as soon as possible, but what if their children end up spending little or no time in college? (more…)
Helping Your Parents Manage Financial Tasks
Jun 26, 2019
Worldwide, the number of people aged 60 and older is growing.By 2050, this demographic will be more than twice as large as it was in 2015.¹
Some of these seniors could face a financial test.Will they be able to look after their investments or financial matters at age 80 or 90 with the same level of scrutiny they exercised earlier in life?
Your parents may be facing such a challenge.If you sense that they are not quite up to it, then a conversation about financial issues could be in order.
If you need to have this kind of talk with your parents, it is best to proceed gently, while acknowledging some potential risks that may heighten if the status quo persists. (more…)
2019 Mid Year Outlook
Jun 25, 2019
Making a Charitable Gift from Your IRA
Jun 21, 2019
Is your annual IRA withdrawal a bother? If you are an affluent retiree, that might be the case. The income is always nice, but the taxes that come with it? Not so much.
If only you could satisfy your yearly IRA withdrawal requirement minus the attached taxes. Guess what: there might be a way.
If you gift traditional IRA assets to charity, you could see some big tax savings. The Internal Revenue Service calls this a Qualified Charitable Distribution (QCD), and you may want to explore its potential. Some criteria must be met: (more…)
Tags: Retirement Tax Savings
Tax Moves to Consider in Summer
Jun 14, 2019
Making changes earlier rather than later.
If you own a business, earn a good deal of investment income, are recently married or divorced, or have a Flexible Savings Account (FSA), you may want to think about making some tax moves now rather than in December or April.
Tags: Tax Planning
Bad Spending Habits That Can Be Corrected
Jun 12, 2019
Americans have a great deal of disposable income relative to many other nations, yet our free spending can take us further and further away from the potential for financial freedom. Some people fall into crippling spending habits and injure their finances as a consequence.
Tags: Financial Help, Spending Habits
Impact Investing: Have You Heard of it? You Will.
May 24, 2019
I’d like to shine a bright light on the ever-growing popularity of impact investing and then define the three types of investors found to have the most interest in what seems to be this relatively new (although it’s actually not) and seemingly unknown (only to the retail investor) area of the investment marketplace. Let’s hop right in.
Impact investing. First, it’s important to know that “impact investing” is merely a subsegment of a more broadly defined investment methodology known as Sustainable, Responsible and Impact … otherwise known as SRI. This is actually a relatively new set of terms or definition for the S-R-I acronym which for a long time stood for Socially Responsible Investing – and that is actually where a lot of confusion comes in when people begin to discuss SRI or impact investing strategies. (more…)
CharMeck Adopt-a-Stream Clean
Apr 30, 2019
The #BeEPIC Team was at it again. And we are happy to report a much improved stretch of Little Sugar Creek waterway! Despite having pulled about a full bag and a half of debris from the water and its surrounding banks, it was the least amount that we’ve seen since we started volunteering over a year ago. The primary culprits, as we’ve seen in the past, consist primarily of disposable plastic grocery store bags, styrofoam cups and take-out containers, aluminum cans, bottles, and foil snack bags. Some of the more unique items today were tattered clothes, a decomposed backpack, a softball, and a basketball. But there was some beauty among the discarded, as we saw flowers blooming, bees buzzing, and a few geese going about their day. Not to mention the sun was blazing and it was HOT! All worth it as we recognized the value of our efforts in seeing our little strip look pretty clean and alive with wildlife. If you’d like to consider volunteering with us please let us know. If you’d like to learn more please visit Storm Water Services Adopt-a-Stream Program
Men’s Shelter of Charlotte
Apr 1, 2019
The sun was out, our workload was light, and it was a FRIDAY! To top it all off we had the distinct honor of serving over 100 men a hearty meal. It doesn’t get much better than that.
That was our experience this past Friday when several of us from Epic Capital served lunch at the Men’s Shelter of Charlotte off of N. Tryon Street. It was good to be back having served there before, because each time we go we see a host of new faces, meet new volunteers and staff and always make a few new friends. We also leave with the clear understanding that the men we serve matter. They deserve the attention, the time, and the kinship that our engagement with them provides.
It is also obvious that they are grateful for our being there. If they don’t provide an all-out verbal “Thank you.”, you can see the gratitude in their eyes or in a subtle smile and a nod. We can’t even begin to imagine a day in the life of one of these men – the trials and tribulations of being homeless, but for a brief moment that split-second interaction is a meaningful connection. For them, and for us.
If you’ve never served there before, we would truly encourage you to do so. Yes it’s humbling, it’s a brief look into a world that so many of us pray never falls upon us. But your being there lets these men know that we care, that they truly are worth our time, and that they are worthy of so much more than where they are at that moment in time.
The Men’s Shelter of Charlotte operates two shelters, comprised of 405 beds. They provide the basic needs of shelter, meals, showers, laundry services, hygiene items, and access to a supportive staff. For more information or to schedule a volunteer effort visit their website at
https://www.mensshelterofcharlotte.org/
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