Friday, August 7 2020

You Only Have…

To Take a 100% Charitable Tax Deduction

2020 has been a tough year for many Americans and for people around the world. Yet, despite the hardships, there are redemptive opportunities for generous givers this year that are unprecedented. Bob and Bryan lay out the 7 key strategies that will allow you to make the most impact with your charitable dollars in 2020 – plus a bonus strategy for being generous with short term capital gains. Time is running out to take advantage of these things. Watch this episode and send it to your advisor!

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The Bob & Bryan Show Tax-Smart Strategies You Can Use in 2020

For many generous givers, the charitable tax provisions introduced by the Cares Act for the 2020 tax year are a game changer. In this year only, givers are able to deduct 100% of their Adjusted Gross Income (AGI). At face value this may seem less than news worthy, since this will like apply to a very small group of givers. However, the creative application of this rule creates charitable opportunities for many NCF givers in 2020…

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If you a generous giver and have executive compensation in the form of stock options restricted share units, this short webinar will show you how you can gift these tax-free to ministry – but only in the 2020 tax year. This is made possible through the charitable provisions of the CAREs Act passed by congress earlier this year.

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In previous tax years, anyone over 70.5 could gift their required minimum distributions (RMDs) from their IRAs to ministries. This year you can still give your RMDs, but the charitable provisions of the CAREs Act offer generous givers broader tax advantages for giving retirement assets. In this year only, if you are over age 59.5 you can give from your IRA, 401K or Pension Plan to ministry with no federal income tax and no penalties.

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