The Summit Federal Credit Union’s Post

Charities that receive donations of capital items like real estate may wish to consider the implications of the increase in the capital gains inclusion rate and the fact that this change comes into force for dispositions after June 25, 2024. The bottom line is that gifts of certain types of capital property (notably not publicly traded securities) before that date will trigger lower tax and leave more leftover credits to use against tax from other sources than if the gift were to take place later in the year. So if you are planning a gift of capital property this year it's best to do it soon.

With a flurry of last minute registrations, the Big Team Walk now has 46 teams walking for their physical and mental wellbeing as well as supporting our charity partner London Sport💪🎉 What a great way to celebrate Mental Health Foundation's Mental Health Awareness Week, 𝘔𝘰𝘷𝘦𝘮𝘦𝘯𝘵: 𝘔𝘰𝘷𝘪𝘯𝘨 𝘮𝘰𝘳𝘦 𝘧𝘰𝘳 𝘰𝘶𝘳 𝘮𝘦𝘯𝘵𝘢𝘭 𝘩𝘦𝘢𝘭𝘵𝘩 👏 #TotalActiveHub #MovementsforMovement #employeeengagement #corporatewellbeing #MentalHealthAwarenessWeek #NationalWalkingMonth

Asked again today…”What exactly is a Bargain Sale?” My simplest response is “Helping those who help others” Congress passed this to help charities carry out their much needed mission. If as a property owner, you sell to a qualified non profit for less than appraised value, you are allowed 6 years to use a tax deduction that is the difference between the cash you receive and appraised value. Properties can also be fully donated, which substantially increases tax deduction. This works the very best on properties where the offers are less than listed price. It fills that gap. www.redusa.us

A UK discretionary trust by deed of variation can offer significant inheritance tax (IHT) benefits if made within two years of death. Beneficiaries can redirect their inheritance to others, such as children or charities, and establish a discretionary trust for flexible, generational wealth planning. Creating such a trust ensures the original beneficiary can remain a potential beneficiary without impacting their estate’s IHT. For more information, read our latest article linked in the comments or contact Laura Tommis. #EstatePlanning #InheritanceTax #Trusts

Are you part of a football, rugby, or any other sports team or club? Looking for ways to raise funds for the new season ahead? I can help through Utility Warehouse. Let's team up. You’ll earn a generous referral fee (typically £125 for each homeowner) for every parent or guardian we help save money on essential utility bills they’re already paying for. This way, you can not only generate much-needed funds for the club but also help families save money when they need it most. Interested in learning more about how this could benefit your club? Comment, tag below, or drop me a message. Let's make this season the best one yet! #FundraisingIdeas #SupportLocalClubs #UtilityWarehouse #SportsFundraising #ClubFundraiser #RaiseFunds #CommunitySupport #SaveMoney #FamilySavings #FundraisingOpportunity #SportsClubsUK #HelpYourClub #LocalSports #TeamFundraising #UtilitySavings

A portion of each transaction goes to local charities in the communities our EXIT Realty agents live and serve. When it comes to your next real estate transaction choose a locally owned and empathy based real estate company. Choose EXIT Realty. Text EXIT to 85377 to start browsing for real estate for sale near you. #locallyowned #exitrealty #besttrainedagents #changinglives ##communitysupport

Are you part of a football, rugby, or any other sports team or club? Looking for ways to raise funds for the new season ahead? I can help through Utility Warehouse. Let's team up. You’ll earn a generous referral fee (typically £125 for each homeowner) for every parent or guardian we help save money on essential utility bills they’re already paying for. This way, you can not only generate much-needed funds for the club but also help families save money when they need it most. Interested in learning more about how this could benefit your club? Comment, tag below, or drop me a message. Let's make this season the best one yet! #FundraisingIdeas #SupportLocalClubs #UtilityWarehouse #SportsFundraising #ClubFundraiser #RaiseFunds #CommunitySupport #SaveMoney #FamilySavings #FundraisingOpportunity #SportsClubsUK #HelpYourClub #LocalSports #TeamFundraising #UtilitySavings

Did you know ? The Do Not Call list doesn't actually block everyone from reaching out to you unsolicited. The FTC rules still allow calls about political campaigns, charities, debt collections and surveys to go through, even if you're on the registry. You can register for the National Do Not Call Registry online or by calling 1-888-382-1222 (TTY 1-866-290-4236) from the number you want to register. #TheMoreYouKnow #ScamLikely #SpamRisk

With a Friends Fund at CAF Canada, your foreign #ngo can launch and maintain fundraising appeals and receive tax-deductible donations from Canadian donors. Learn more about the advantages of opening a Friends Fund below!

We can all see the impact of local government having less funding in our local communities - whether it be in education, social care or simply the number of potholes in our roads. More councils than ever have had to issue s114 notices (effectively insolvency notices), and there are warnings that more are likely to have to do so over coming months. Councils fund a network of companies and charities in support of their objectives, and the above will have a significant effect on many of those organisations. In the attached article my colleagues review the wider effects on many stakeholders. Early advice and engagement is key to seeking the best outcome for stakeholders - and being an ostrich is no defence! If in doubt seek advice from experienced and qualified advisors. #localgovernmentfinance #charities #dontbeanostrich