1. Can you donate Bitcoin to charity?
Fidelity and other charitable gift funds are now accepting charitable donations of bitcoin. This is a fabulous opportunity if you are invested in bitcoin and experience a spike in value.
2. What is a benefit corporation?
A benefit corporation is a company that provides benefits far beyond stockholder return. They are designed and run to benefit all stakeholders including the stockholders, employees and the community.
3. What is Bunching?
Bunching is a strategy to itemized income tax deductions every other year, or in one particular year when you do not use or take the standard income tax deduction given to you by the IRS. Then, in the alternate years, you reduce your deductions and simply use the standard deduction.
4. What was the total amount of philanthropy in the U.S. last year?
$4 billion
$40 billion
$400 billion?
Believe it or not, $400 Billion dollars. That’s a B. Wow!!! Apparently, Americans are very philanthropic.
5. In a high-interest rate environment which is better from a tax point of view? CRT or CLT?
Each case is unique, but the Charitable Remainder Trust is typically better for you, the taxpayer, in a high-interest-rate environment. The Charitable Lead Trust is typically better in the low-interest rate environment.
6. Did Facebook raise over 1 Billion in its online contributions for charities via Facebook's fundraising platform?
Yes - Social Media is having a profound impact on the speed and diversity of giving - especially among younger donors.
7. What is the difference between charity and philanthropy?
Charity, in general, provides much-needed relief to a problem. Unlike philanthropy, charity is not always designed to solve a long term problem.
Example, feeding the underprivileged vs. educating the underprivileged to have an opportunity to enter the workforce to make a wage that is sustainable.
8. What’s the main reason clients want to talk to their advisors about philanthropy?
Most donors want to know how they can make a meaningful impact, rather than spend a great deal of time talking to their advisor about the tax nuances of a charitable technique. Both are clearly important.
9. Who gave more to charity in 2018? Corporations or private foundations?
Private foundations gave a great deal more than corporations. Both are excellent, but private foundations have an enormous amount of built up assets to donate the income and more.
