Charitable Giving
One of the most fulfilling aspects associated with the accumulation of wealth is the ability to use it to help others. Private philanthropy is a thriving enterprise in the United States, and there are a variety of reasons to consider it in your estate planning and as a strategy for reducing your tax burden.
MarsJewett can help you develop a plan to share your success with generations to come.
In addition to personal satisfaction and community recognition, private gift giving in the United States supports thousands of worthwhile projects that would otherwise go unfunded. On a more practical level, resources committed to a charitable cause on a tax-advantaged basis can often avoid capital gains tax, while providing a current income tax deduction to you, your family, or your estate.
Charitable trusts can be structured to provide personal income from your assets throughout your lifetime and that of your spouse, actually enhancing the value of your estate, as you gift benefits to others in a lasting and meaningful way. The use of trusts involves a complex web of tax rules and regulations. We consult with experienced estate attorneys before implementing such strategies, and in many cases, we work closely with your family’s attorney and/or CPA.
EDUCATIONAL RESOURCES
Key Financial Data 2024
If you are interested in the new numbers affecting 2024 taxes, retirement contributions, health savings, Medicare, and more, please read or download the PDF below to have on hand. As always, do not hesitate to call our office or email us with any questions.
Social Security and the Pursuit of Financial Independence
A lot has changed in the workforce – and human longevity – since the Social Security system was established in 1935. Nearly a century ago, retirement arrived at age 62, and many people passed away by age 65. Retirement was three years, not twenty-five or more. Today,...
Question for the Ages: What do light bulbs, ice cream, and lunch have in common?
Purpose and satisfaction are inextricably linked when it comes to enjoyment in life. Cultivating purpose, or finding meaning in our life’s journey, is so often connected with community. We need others, and we thrive when we have caring connections with people. Our...
Key Financial Data 2024
If you are interested in the new numbers affecting 2024 taxes, retirement contributions, health savings, Medicare, and more, please read or download the PDF below to have on hand. As always, do not hesitate to call our office or email us with any questions.
Social Security and the Pursuit of Financial Independence
A lot has changed in the workforce – and human longevity – since the Social Security system was established in 1935. Nearly a century ago, retirement arrived at age 62, and many people passed away by age 65. Retirement was three years, not twenty-five or more. Today,...