With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for many taxpayers. And they’ll be more effective if you begin implementing them this summer, rather than waiting until year end. Take a look at these three ideas, ... more
Archives for July 2018
The Basics of Creating and Growing an Endowment
All nonprofits should think about setting aside money for a rainy day, but it’s a bigger consideration when you do it through an endowment. Endowments, by their nature, are not usually collected for the purpose of spending the money. The definition of an endowment, is the portion of funds set aside that are “permanently restricted” unless a donor or the court says the organization can spend it. The interest and dividends from the endowment, ... more