As the end of the year approaches, we will all receive many solicitations to make charitable gifts. These can be anything from small cash donations to larger gifts of stock or other property. When considering your year-end charitable giving, here are some tax-smart ways to give to charity. Donor-Advised Funds (DAFs) offer one of the…

As the holiday season approaches, now is the perfect time to review your finances and make any necessary adjustments before the new year. Year-end planning not only helps optimize your tax situation, but also ensures you’re prepared for potential changes in tax laws and financial goals. Whether it’s making charitable donations, maximizing your retirement contributions,…

Many of our clients have Limited Partnerships or LLCs that they use for a variety of purposes, such as to hold a family beach house, to conduct a small business or manage a pool of securities. All of these types of closely-held business entities are subject to a new reporting regime known as the Corporate…

At 1919 Investment Counsel (“1919”), our clients who are interested in making a difference often ask us for advice on how to leave a philanthropic legacy. However, the tax rules and various types of vehicles for charitable giving are complex and not always easy to navigate. Below is some advice you might consider as you…

A Charitable Remainder Trust (“CRT”) is an irrevocable trust that provides income to the donor or other noncharitable beneficiaries for a specified period of time, with the remainder going to one or more charitable organizations upon termination of the trust. An important aspect of the CRT is that the trust itself is tax-exempt and the…

Is a Charitable Lead Trust (CLT) Right for Me? If you are charitably-inclined and wish to benefit your family, a CLT may be right for you. The main benefits of a CLT are the potential reduction in gift and estate taxes for the non-charitable beneficiaries and, in the case of a grantor trust, an upfront…

A private foundation is a type of non-profit, tax-exempt organization that is typically funded by an individual, family, or corporation to support charitable causes through grant making and allows donors to establish a philanthropic vehicle under their control to make grants in line with their charitable interests, while benefiting from tax advantages. Key Points: Private…

A Donor-Advised Fund (DAF) is a charitable giving account administered by a public charity that allows donors to make tax-deductible contributions and then recommend grants from the fund to qualified charitable organizations over time. Key Attributes: Donors contribute cash, securities, or other assets to a DAF account and receive an immediate tax deduction of up…

At 1919 Investment Counsel (“1919”), our clients who are interested in making a difference often ask us for advice on how to leave a philanthropic legacy. However, the tax rules and various types of vehicles for charitable giving are complex and not always easy to navigate. Below are some steps and considerations we take when…

Tax Changes Could Be on the Horizon – Managing Tax Risks in 2024’s Uncertain Environment A Brief Summary Many of the tax benefits enacted by the Tax Cuts and Jobs Act are scheduled to disappear on January 1, 2026.  Anyone seeking to take advantage of the current tax rules should start speaking to their financial…