Close Menu
    What's Hot

    SCOTUS Rules in Favor of Catholic Charity That Says It’s Following ‘Christ’s Call’ to Serve The Needy

    June 5, 2025

    ‘This Is the Core Belief of New Thought’: Apologist Uncovers Deceptive Theologies

    June 5, 2025

    ‘Agro-terrorism Weapon’ Smuggled into US, 2 Chinese Nationals Caught with Dangerous Pathogen

    June 4, 2025
    Facebook X (Twitter) Instagram
    • Home
    • Entertainment
    • News
    • Health
    • Family
    • Finances
    • Music
    SAMPLE NEWS
    Home»Finances»Frank Nico on 2020 Year-End Giving
    Finances

    Frank Nico on 2020 Year-End Giving

    Erick NeumanBy Erick NeumanMay 29, 2025Updated:May 29, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Frank Nico on 2020 Year-End Giving
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Visit CBNLEGACY.org, call 1-800-333-2373 or email [email protected]

    Year-End Ideas – Optimizing Charitable Giving 

    There are three focus areas when deciding on optimizing charitable giving while maximizing tax deductions:

    1. Appreciated Investments 
    2. Cash 
    3. Retirement Plans 

    Appreciated Investments

    • Gifts of Stock
      • Select a highly appreciated stock held for 1-year+ in a brokerage account.
      • Donate stock shares by DTC wire transfer.
    • Benefits
      • Receive an itemized charitable tax deduction at the stock’s market value.
      • Avoid the capital gains tax i.e. the tax on profits.

    2020 Rules Affecting Charitable Giving 

    The CARES Act and the SECURE Act created both challenges and opportunities for taxpayers and donors.

    Cash Donations   

    • CARES Act – March 2020 Some changes implemented to encourage charitable giving.

    Retirement Plans

    • CARES Act – RMDs (Required Minimum Distributions) were waived for 2020. 
    • SECURE Act – January 2020 Significant retirement plan reform.
      • RMD age changed from 70-1/2 to 72. 
      • IRA QCDs at 70-1/2+ still permitted.

    Charitable IRA and QCD Qualified Charitable Distribution 

    • The QCD is a very smart and tax efficient way for seniors (70-1/2+) to give from traditional IRAs or inherited IRAs. Vehicle used to bypass the tax.
    • A Donor Advised Fund is a charitable gift investment fund that pay grants spread out over future periods to qualified charities.

    The Bunching Concept Option used with a DAF 

    • Bunch charitable deductions into one year and itemize deductions.

    Legacy Giving – The Best Assets to Give 

    • SECURE Act
      • Eliminated the stretch lifetime IRA distribution benefit to non-spouse beneficiaries.
    • Retirement Plans Legacy Option 
      • Designate appreciated assets (securities & real estate) to children. 
      • Donate IRA & Qualified retirement plan accounts to charity on a tax-free basis.
    • Retirement Plan Legacy Option – CRT (Charitable Remainder Trust)
      • Name a CRT as the IRA designated beneficiary for tax-free transfer.
      • The CRT creates lifetime income stream for children & Legacy gift to charity. 
    • Donor Advised Fund Legacy Option 
      • Name children as DAF successor advisors to continue legacy gifting to charities.

    Advisory: Each of these gifting options requires careful planning and coordination. Discuss charitable goals with advisors and share legacy gift plans with family members.

    Contact Planned Giving For Assistance When Required 
    Visit CBNLEGACY.org, call 1-800-333-2373 or email [email protected]    

    Disclaimer: This communication does not constitute legal, tax, or financial advice, which CBN does not provide. Please consult professional advisors concerning the legal, tax, or financial consequences related to your charitable planning. 

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Erick Neuman
    • Website

    Related Posts

    Four Reasons You Should Not Use Your 401k to Pay Off Your Credit Card

    May 29, 2025

    3 Simple Ways to Boost Your Savings

    May 29, 2025

    Giving Generously While In Debt

    May 29, 2025

    When Success Feels Like Failure

    May 29, 2025
    Add A Comment
    Advertisement
    Advertisement
    FINANCES

    Four Reasons You Should Not Use Your 401k to Pay Off Your Credit Card

    May 29, 2025

    3 Simple Ways to Boost Your Savings

    May 29, 2025

    Giving Generously While In Debt

    May 29, 2025

    When Success Feels Like Failure

    May 29, 2025

    5 Essential Business Principles from the Bible

    May 29, 2025
    ENTERTAINMENT

    Christine Caine on How to Find Your Way Back from Drifting Away

    May 29, 2025

    Todd and Brooke Tilghman on “Every Little Win”

    May 29, 2025

    Michael W. Smith on “The Way of the Father”

    May 29, 2025

    ’12 Mighty Orphans’ Director:”‘We Need to Help Kids Dream Again”

    May 29, 2025

    CBN Film’s documentary, “Written in Stone: Secrets of the Temple”

    May 29, 2025
    HEALTH

    Empathy and Healthy Boundaries | CBN

    May 29, 2025

    When the Keto and Mediterranean Diets Marry

    May 29, 2025

    Life-Threatening Illness Loses to Power of Prayer

    May 29, 2025

    Rhythm of Rest | CBN

    May 29, 2025

    Saved from the Jaws of Death

    May 29, 2025
    • Privacy Policy
    • Terms of Use
    • About Us
    • Contact Us
    © 2025 All Rights Reserved - Sample News

    Type above and press Enter to search. Press Esc to cancel.