Though often unappreciated, the annual passage of tax season has benefits. For one, it offers some finality to the prior year in that we finally know if we owe or are due a refund. For example, for the 2021 tax year, the IRS processed 88 million...
If you get cross-eyed when you start reading about Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs), you are not alone! And, given the December 2022 passage of SECURE 2.0 legislation, changes to RMD rules are especially important to understand if you are involved...
Banking fallout and charitable giving, proposed legislation, and what’s on the IRS’s radar Hello from the community foundation! Happy April! As tax time comes and goes for another year, many of you are beginning to address your clients’ charitable giving goals in earnest. With that in mind, our...
McPHERSON --- The McPherson County Community Foundation (MCCF) has announced the final totals of their Match Week event. Between Mar. 6-10 over $590,000, with match included, was raised to help build the endowments of 44 county nonprofits. This total breaks the record of $386,000 set...
If you’ve been giving to favorite charities for many years, it will not surprise you to learn that most donors are interested in deepening and focusing their impact as they maintain the frequent and total amount of giving. Focusing on impact is hard, but it’s easier when you...
Addressing disaster giving, eligible QCD recipients, and tips for your business owner clients Hello from the community foundation! Many thanks to those of you who have reached out over the last few weeks with questions you're hearing from your clients. We're happy to address three of the...
Philanthropy on clients' minds, pre-spring cleaning, and three tax tips February greetings from the community foundation! Even though 2023 is only a few weeks old, we're hearing from many attorneys, accountants, and financial advisors that clients are already talking about their charitable giving plans for the year. As...
If you’ve been involved with charitable giving for a few years, you’ve no doubt become familiar with both private foundations and donor-advised funds and their popularity as charitable giving tools. As is often the case with tax and estate planning-related topics, the differences between private...