April showers: Puddles to avoid as you navigate tax deadline extensions

— Published 4/9/2021 Your clients most certainly are aware that the Internal Revenue Service and the Treasury Department have extended the federal income tax filing and payment deadline for the 2020 tax year from April 15, 2021 to May 17, 2021. Be aware, however, that clients might overlook the fact that this extension applies only […]

Read More >

In sync on giving: Lawmakers from both parties support expansion of CARES Act deduction

— Published 4/9/2021 Four Republican Senators, four Republican Democrats, a House Democrat, and a House Republican have introduced legislation to expand the increased charitable deduction cap for non-itemizers to up to one-third of the standard deduction. The Universal Giving Pandemic Response and Recovery Act (S.618/H.R.1704) also extends this temporary $300 deduction, which was included in […]

Read More >

Giving together: Factors to consider when representing couples

— Published 4/9/2021 The Nevada Community Foundation can help as you work with a couple to design a charitable giving plan that will create rewarding philanthropic experiences for both partners. Indeed, in Giving as a Couple, Rockefeller Philanthropy Advisors reinforces the tenets we maintain as a team at the community foundation when we are working […]

Read More >

Tax tips: Qualified appraisals, 2020 tax changes, and holiday parties (not)

— Published: 3/9/2021 Here are three of our favorite tax tips for March: For yet another reminder about the importance of obtaining a qualified appraisal for transactions in order to secure a charitable deduction, as well as evidence that the IRS will continue its scrutiny of conservation easements, see the opinion in Sells v. Commissioner […]

Read More >

Unlocking the power of clients’ real estate: Why the bargain sale is a must-have in your charitable planning toolkit

— Published 3/9/2021 Whether a nonprofit’s mission calls for office space, warehouse facilities, or something in between, most charitable enterprises need a physical location to serve their constituents. Unfortunately, nonprofit organizations are frequently left empty handed when they search for competitively-priced commercial property to house their operations.   Enter the charitable bargain sale, a giving vehicle […]

Read More >

Beyond the tax deductions: Selecting a vehicle to celebrate and support a family’s culture of philanthropy

— Published: 3/9/2021 For many donors, the importance of a multi-generational family philanthropy plan is high on the radar, especially in the wake of 2020’s eye-opening events highlighting the importance of rallying around important social and community priorities. How do you know when a client’s family is a strong candidate for more formal philanthropic planning, […]

Read More >

Now Open: Las Vegas Golf Hall of Fame Scholarship 2021

— For Clark County high school seniors who has participated in junior golf programs. Submission deadline is April 30, 2021. The Las Vegas Golf Hall of Fame is pleased to announce the fifth annual Bill Walters Las Vegas Golf Hall of Fame Scholarship. Created to support Southern Nevada’s junior golfers in their continued educational development, […]

Read More >

Donor privacy: Will the Supreme Court unravel 50 years of case law?

— On January 8, 2021, the United States Supreme Court granted review to Americans for Prosperity Foundation v. Becerra and Thomas More Law Center v. Becerra. Both cases challenged the California attorney general’s requirement that charities disclose major donors’ names and addresses. The Ninth Circuit United States Court of Appeals disagreed with advocacy groups’ arguments […]

Read More >

Red hot real estate: Structure smart gifts to charity without getting burned

— The housing market is showing no signs of slowing down in 2021. For certain clients, this presents a strong opportunity for charitable gifts of real estate, whether a primary residence, second home, rental property, or even niche commercial property that’s benefited from a multi-faceted pandemic marketplace. As is the case with gifts of other […]

Read More >