Photo by Alexander Radelich on Unsplash
According to the National Philanthropic Trust (NPT), Americans donated over $389 billion in 2016. Most of that money, 72% to be exact, came from individual donors like you.
I imagine that most of those donations went directly to qualified 501(c)3 charitable organizations. However, more and more people are using donor advised funds as their charitable vehicle of choice.
If you plan to make a charitable gift before the end of the year, you may wish to consider a gift to a donor advised fund as well.
Photo credit: Simon Wijers. Unsplash.
In 2017 the first baby-boomers turned 70. Happy birthday! However, if you had your 70th birthday between January 1 and June 30 of this year, the IRS says you must take your first IRA “required minimum distribution” (aka RMD) this year as well.
Well, OK. Technically, you really have until next year. More about that below.
Photo Credit: NeONBRAND for Unsplash
Paying less in Federal income tax means you get to keep more of your hard-earned income for yourself, for your family and to share with others. You benefit, your family benefits and the economy as a whole benefits.
At least, that’s the way it’s supposed to work.
The new tax proposal is being pitched as a “tax cut for the middle class”. As with every tax overhaul there are winners and losers, but taxpayers need to be careful what they wish for.
November 22nd, 1992.
That was my first official day as a financial planner. For several months, I had been working hard to get licensed, establish a network of contacts, and get set up to hit the ground running, but Wednesday, November 22, 1992 was my official first day on the job.
My manager generously allowed me to celebrate by taking the next day off. The fact that the next day was Thanksgiving and he wanted to spend it with his family, I am sure was just a coincidence.
Back then, the only days we had off were Sundays and major Federal holidays. The Friday after Thanksgiving was not one of them. So, on Friday the 24th I was back at it – or maybe I should say “at it” since I hadn’t really even gotten started yet.
Since 2009, GiveMN.org has paired charitable donors with qualified charitable organizations in a uniquely Minnesota movement known as Give To The Max Day.
Last year alone, donors anted up more than $20 million over a 24-hour period to support their favorite causes. To date, Give To The Max Day has raised over $125 million dollars for Minnesota-based charitable organizations.
Below are 3 reasons why you should give to the max on November 16th.