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News and information to help improve your Four Capitals
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Charitable Giving

Charitable Giving: Cash vs Property

Taxpayers can make charitable gifts using cash or property. Examples of property commonly donated to charities includes appreciated stock and other marketable securities. The type of asset gifted could affect the amount of the taxpayer’s deduction. This article explains various aspects and planning opportunities for donating cash and property. Understanding Charitable Cash Donations Cash donations

By Alyssa Yocom
January 21, 2022
Retirement Planning

Social Security Benefits Increasing in 2022

Each year, the Social Security Administration announces the annual cost-of-living adjustment (COLA). In October, they announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 1.6% in 2020.

By Alyssa Yocom
January 20, 2022
Estate Planning

Estate and Gift Tax Limits for 2022

The IRS has announced that in 2022, the estate and gift tax exemption will be increased to $12,060,000 per individual, up from $11.7 million in 2021.

By Alyssa Yocom
January 18, 2022
Tax Planning

Medical Expense Tax Deduction for 2022

The IRS allows individuals to deduct qualified medical expenses that exceeded 7.5% of their adjusted gross income (AGI).

By Alyssa Yocom
January 14, 2022
Charitable Giving

Charitable Planning Conversations

Philanthropy and charitable giving can take many forms – from donating gently used goods to making monetary gifts to charitable organizations. Having open conversations about philanthropy and charitable giving with your family is a way to encourage all members to participate in a common family gifting goal.

By Alyssa Yocom
December 17, 2021
Tax Planning

Year-End Tax Planning Strategies for 2021

Planning was particularly challenging this year due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gains starting next year. On December 16th, it was announced that the Build Back Better bill would be debated further in January but there would be no changes in tax law in 2021.

By Alyssa Yocom
December 16, 2021