DASCH’s Post

By including charitable provisions in your estate plan, you can ensure your legacy extends far beyond your lifetime. Leaving a gift of 10% or more of the net estate value over the IHT threshold to charity can reduce the rate of Inheritance Tax payable on your estate from 40% to 36% #CharitableGiving #EstatePlanning #LeaveALegacy

If you donate valuable assets to charity and don’t follow certain requirements, the charitable tax deduction may be denied. Here are some answers to questions about how to protect your deductions: bit.ly/44Q2siM #tax #taxes #taxdeduction #charity #charitable #deductions #requirements

Did you know........ That higher rate taxpayers can claim tax relief on charitable donations made through the Gift Aid scheme? Make sure to keep a record of your donations and include them on your tax return to take advantage of this opportunity. Giving back has never been so rewarding! #taxrelief #charity #givingback

🇨🇦 Did you know? The Canadian Government offers some of the world's best tax incentives for charitable giving, particularly from your Estate. By working with us, you can structure a charitable gift in your Estate to maximize these incentives and save on taxes. Make a lasting mark. Create your legacy. 💫 #CharitableGiving #EstatePlanning #TaxSavings #LegacyCreation

If you’re at least 70½, one of the best ways to lower your taxes while doing good is to donate to a nonprofit through a qualified charitable distribution (QCD). Beginning in 2024, with a QCD, you can exclude up to $105,000 from your gross income (up from $100,00 in 2023). If you’re married, your spouse is at least 70½, and they have an IRA, they can also exclude up to $105,000 a year. You can use QCDs with traditional IRAs and inherited IRAs. And QCDs count toward the amount you must take out from your IRA each year once you turn 73 (i.e., the required minimum distribution or RMD). However, your QCD can’t exceed your RMD. For more information about QCDs, please read our blog: https://shorturl.at/yzJQW. #QCD #IRA #FinancialPlanner #WealthAdvisor

Supporting the Foundation for Blind Children (FBC) isn’t just about making a difference in the Blind Community—it’s also about leveraging your donation for the Arizona Charitable Tax Credit! At FBC, we’re dedicated to empowering blind and visually impaired individuals, providing critical resources, education, and support to help them thrive. Your generosity fuels our efforts to create a more inclusive society where everyone has opportunities to succeed. What’s more, your donation to FBC can be applied to the Arizona Charitable Tax Credit, allowing you to support our mission while also receiving a dollar-for-dollar credit (specific limits apply) on your state taxes. It’s a win-win that makes a real impact in the lives of those we serve. Join us in transforming lives and building a brighter future for the blind community. Together, we can make a difference that lasts a lifetime. Visit [Foundation for Blind Children’s website] to learn more about how you can contribute and claim your tax credit today! Learn more about the Arizona Charitable Tax Credit and how you can contribute: https://lnkd.in/gv_N-B6H #FoundationForBlindChildren #BlindCommunity #VisuallyImpaired #Empowerment #InclusiveSociety #TaxCredit #SupportEducation #VisionLoss #BlindnessAwareness #CommunitySupport #ArizonaTaxCredit #SupportInclusion #MakeADifference

Charities have been particularly hard-hit in recent years and any financial support you can give we are sure will be welcomed. It’s also tax efficient: you won’t pay inheritance tax on the amount you gift in your will, known as a ‘charitable legacy’, and if you leave at least 10% of your taxable estate to a charity, your inheritance tax rate on the rest of your estate reduces from 40% to 36%. #InheritanceTax #Will #FinancialPlanner #CharityDonation

Did you know that when you donate 10% of your estate to charity, the Inheritance Tax on your taxable estate drops from 40% to 36%, benefitting the charity and your beneficiaries? #leighanslist #estateplanning #wills #probate #financialplanning #powerofattorney #trusts #estateplan #estate #familylaw #livingwill #family #livingtrust #will #personalfinance #inheritancetax #tax #charitydonation

Here is the link to the draft CCI regulations https://lnkd.in/daS2kuBz

If giving is a priority for you, consider the potential charitable and tax benefits of a qualified charitable distribution (QCD) if you and/or your spouse are at least 70 1/2 years old. I can help you weigh the pros and cons of this approach.