RenPSG | Blog
Still reeling from the sting of your tax bill for 2015? Nothing can ruin a beautiful spring day like writing Internal Revenue Service in the “Pay to the Order of” section of a check. Perhaps you are an accountant or trusted advisor who had to deliver the exciting news to a client that they must make “additional contributions” to the government this year? Unfortunately, our time machine is still in development so we can’t go back to 2015 to right our wrongs, but moving forward, there is a way to turn potential compulsory contributions to Uncle Sam into charitable gifts for organizations you and your clients love.
Traffic on all northbound arteries is picking up as the snowbirds return home after their winter in the sunny south. For many of these retirees, their first order of business once home will be to visit their trusted advisors. If your clients share with you concerns about maintaining two homes, are you ready to discuss options with them?
In my previous post, I discussed how to properly evaluate the potential acquisition by a CRT of an illiquid position in a private equity investment, non-traded REIT, or limited partnership interest. Today, I will cover the other three areas I always advise clients to evaluate with illiquid gifts: self-dealing, valuation and liquidity.
I’m frequently asked whether a certain private equity investment, non-traded REIT, or limited partnership interest is a suitable investment for a charitable remainder trust (CRT). My response is a resounding, “Maybe!” With any investment other than cash, a security traded on an exchange, or an investment such as a mutual fund for which a daily net asset value (NAV) is available, there are five specific areas of concern I advise a client (or their advisor) to evaluate:
Without a doubt, I plan to be the winner of the $1.5 Billion Powerball jackpot this Wednesday. I have $20 worth of tickets in hand and I just know the winner is there. I also now know that you can’t buy lottery tickets with a debit card, only cash. Sorry to the line of people behind me who had to wait while I ran to the ATM.
For more than a decade donor-advised funds (DAFs) have been the fastest growing giving vehicle in the charitable giving landscape. So what draws donors to DAFs? When we peel back the layers, we find a whole host of reasons and benefits. In addition to being easy to establish, DAFs offer an immediate tax benefit, a tax free environment for appreciated assets to be sold, anonymity in giving, family involvement, and the ability to spread giving over many years.
As we all come off the four-day food bender that is Thanksgiving, we must face the inevitable; the Christmas season is here. For those who are like me, I adopt ostrich-like qualities from what now seems like Labor Day through Thanksgiving, ignoring the ever-expanding holiday shopping propaganda.Read More »Making our List and Checking it Twice