News & Analysis as of

Charitable Donations Charitable Deductions Individual Retirement Account (IRA)

Cozen O'Connor

Changes to Itemized Deductions in the OBBBA

Cozen O'Connor on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Bowditch & Dewey

2024 Year-End Charitable Giving and IRA Qualified Charitable Distributions

Bowditch & Dewey on

As the 2024 tax year comes to a close, owners of individual retirement accounts (IRAs) might consider combining the tax benefits of charitable giving with a qualified charitable distribution (QCD) from their IRA....more

Rivkin Radler LLP

Year-End Gifting: Using Your IRA to Make Gifts to Charity

Rivkin Radler LLP on

If you are at least 70 ½ years old and you have a traditional IRA, you can donate up to $105,000 directly from your IRA account to charity. This direct transfer, called a Qualified Charitable Distribution (QCD), avoids having...more

Bowditch & Dewey

Year-End Charitable Giving and IRA Qualified Charitable Distributions

Bowditch & Dewey on

As the 2023 tax year winds down, owners of individual retirement accounts (IRAs) might consider combining the 2023 tax benefits of charitable giving with a qualified charitable distribution (QCD) from their IRA....more

McGuireWoods LLP

SECURE 2.0 and Other Legislative Proposals Address Charitable Giving Strategies

McGuireWoods LLP on

Despite uncertain conditions, a recent survey shows that approximately three out of four donors maintained their level of charitable giving in 2022 and expect to maintain or increase their giving in 2023. That said, the...more

Bowditch & Dewey

Year-End Charitable Giving and IRA Qualified Charitable Distributions

Bowditch & Dewey on

As the 2021 tax year winds down, owners of individual retirement accounts (IRAs) might consider combining the 2021 tax benefits of charitable giving with a qualified charitable distribution from your IRA. If you are at least...more

Rivkin Radler LLP

Play for the Win-Win: Help a Charity While Benefitting Yourself

Rivkin Radler LLP on

Charitable giving helps to improve social well-being by supporting a broad range of areas including education, scientific research, alleviation of poverty, and others. To encourage donations, the federal government makes...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Bowditch & Dewey

Maximizing End-of-Year Charitable Giving

Bowditch & Dewey on

As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more

Jackson Walker

Charitable Giving in the Time of Coronavirus

Jackson Walker on

It is no secret the Coronavirus has impacted the way Americans live their day-to-day lives. The virus has negatively affected many Americans’ jobs, livelihood, and finances. In such an uncertain time, it may be difficult to...more

Chambliss, Bahner & Stophel, P.C.

Top 10 Tax Planning Tips for 2020

Tax season is right around the corner, but good tax planning takes place all year long! See below for some of our favorite tips and tricks. These cover a variety of areas including charitable giving, estate tax exemptions,...more

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