Trends in Charitable Giving
Jul 15, 2019
According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more that $400 billion in the history of the report.
Americans give to charity for two main reasons: to support a cause or organization they care about or to leave a legacy through their support.
When giving to charitable organizations, some people elect to support through cash donations. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices: (more…)
Tags: Tax Advantages, Tax Planning
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
#GivingTuesday
Dec 1, 2015
There is something extraordinarily special about this day, Giving Tuesday, that simply compelled me to write about it. Unfortunately not everyone will share my overly rose-colored view of #GivingTuesday. Some may see this simply as a day of slight annoyance due to the abundance of e-mails asking for monetary donations. But here at Epic Capital, we see things differently. Given the number of non-profit organizations where our employees have served as board members, we recognize the potential impact of a global campaign like this. (more…)
Tags: Current Events, Estate Planning, Philanthropic Planning, Tax Planning
Taking Out and Putting Back
Mar 4, 2014
“It is every man’s obligation to put back into the world at least the equivalent of what he takes out of it.” That’s a quote from a pretty intelligent guy by the name of Albert Einstein. It is tough to challenge just about anything that came out of his mind, but it’s probably even tougher to measure what one actually takes out of this world. We spend a lifetime of taking out. But can one spend a lifetime of putting back (or giving back)? (more…)
Tags: Current Events, Estate Planning, Investment Planning, Retirement Planning, Tax Planning
Year-end Tax Planning: 10 Things to Keep in Mind
Nov 23, 2011
The window of opportunity for many tax-saving moves closes on December 31. So set aside some time to evaluate your tax situation now, while there’s still time to affect your bottom line for the current tax year. With that in mind, here are 10 things to consider as the curtain closes on 2011.
1. Deferring income to 2012 means postponing taxes
Consider opportunities you might have to defer income to 2012. You might be able to delay a year-end bonus, for example. If you’re able to push what would have been 2011 income into 2012, you may be able to put off paying income tax on the deferred dollars until next year.
2. Paying deductible expenses sooner may help you in 2011
Does it make sense for you to accelerate deductions into 2011? If you itemize deductions, it might help your 2011 bottom line to pay deductible expenses like medical costs, qualifying interest, and state and local taxes before the end of the year, instead of waiting until 2012.
3. Income tax rates to remain the same in 2012
The same six federal income tax rates that apply in 2011 will apply in 2012. So, depending upon your income, you’ll fall into either the 10%, 15%, 25%, 28%, 33%, or 35% rate bracket. And, as in 2011, long-term capital gains and (more…)
Tags: Current Events, Tax Planning
More Insights
Jul 17, 2019
Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid.
Jul 15, 2019
According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more that $400 billion in the history of the report. Americans give to charity for two main reasons: to support a cause or organization they care about or to leave a … Continue reading “Trends in Charitable Giving”
Jul 12, 2019
Social Security will be a critical component of your financial strategy in retirement, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of this retirement income source.
Jul 10, 2019
Whether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare – what they cover and where they come from. There are two components of original Medicare, Parts A & B. Part A is hospital insurance. It provides coverage for inpatient stays at medical facilities. It can also help … Continue reading “The A, B, C, & D of Medicare”
Jul 8, 2019
Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to the Internal Revenue Service, 13 states … Continue reading “A Retirement Fact Sheet”
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