Tax Strategy for Charitable Donations Under the New Tax Act

While we are just beginning to wrap our thoughts around the Tax Cuts and Jobs Act, we are already learning some strategies for taxpayers to consider before the end of 2017.  One of the simplifications of the new act is to create much higher standard deductions for the future.  The … Read more »

2017-2018 Contribution Limits for IRAs and Retirement Plans

The IRS has just released their updated contribution limits for tax deferred savings plans for next year. Since there has been a small increase in inflation for the past year, the contribution limits have risen slightly, and income thresholds have increased as well.  If you want to begin planning for your … Read more »

Consider a Last Minute Donor Advised Fund

There is a good article about Donor Advised Funds (“DAF”) in the December 23 edition of the Wall Street Journal.  It’s titled, Giving Back Isn’t Only for Billionaires, and it provides several stories about less-wealthy philanthropists using DAFs for their good intentions.  At Horizon Advisors, many of our clients have … Read more »

Thinking Ahead: Accelerate Your Charitable Contributions

If you are a high-income earner and make large charitable gifts every year (or anticipate large gifts in the future) you might want to consider accelerating your charitable contributions to take advantage of the current income tax benefit.  A charitable gift in 2016 may provide substantially more benefit than you … Read more »

2016-2017 Contribution Limits for IRAs and Retirement Plans

The IRS has just released their updated contribution limits for tax deferred savings plans for next year. Since there has been no appreciable inflation for the past year, the contribution limits remain the same as last year, although some of the income thresholds have changed.  If you want to begin planning … Read more »