Tag: tax policy

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Taxes

Helping Your Donors Navigate Tax Season

By Michael L. Taylor, CFRE, CFRE, CEO Tax season is a great time to communicate with your donors about how they can make smart decisions about their giving.  In fact, if you have donors who are required to make annual distributions from their individual retirement accounts, there is still time for them to receive a benefit on their 2021 tax returns.  According to IRS rules, anyone who has an IRA must take a required minimum annual distribution (RMD) from their accounts once they turn 72.  But that time is growing short. Eligible donors have until Tax Day (April 18) to give

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Donor Advised Funds: Why Community Foundations Should Endorse the ACE Act

By Alan Cantor Watch a recent in-depth NPI webinar on the subject of Donor-Advised Funds Some people simply can’t take “yes” for an answer. How else can one explain how some community foundation leaders rejected the thoughtful set of reforms contained in the Accelerating Charitable Efforts (ACE) Act — a series of measures to reform Donor-Advised Funds (DAFs) that would actually serve community foundations well? For years, the lobbying arm of community foundations — the Community Foundations Public Awareness Initiative — has embraced a business model in which it fights any form of reforms around DAFs, no matter how mild.

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Biden’s Tax Policy: What’s Ahead for Nonprofits?

By: Michael Taylor, CFRE, CEO The Biden administration has been making the case that to avoid paying the administration’s proposed additional taxes on high earners — an increase from 37% to 39.6% — wealthy Americans will give more to nonprofits. You can hear a detailed discussion about this on our recent webinar. Indeed, President Biden’s  plan to raise taxes  on high earners and the wealthy is likely to entice more rich Americans to give property or other assets to charities before they die to avoid paying large tax bills. For example, taxpayers making more than $400,000 per year would be taxed

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