Ice breakers: Three easy openers to talk about philanthropy

— Published 5/6/2021 Many advisors really want to bring up charitable giving in client meetings, especially while updates to tax and estate plans are underway. Indeed, many advisors believe they have a responsibility to raise the issue. But how?  Addressing charitable giving priorities with clients does not need to be hard. The key is to […]

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“If not 501(c), then what?”: Cautioning clients about crowdfunding

— Published 5/6/2021 What if your clients make donations to entities that don’t fall under a specific section of the Internal Revenue Code, but feel “charitable” nonetheless because the dollars are helping people in need? Perhaps a client has helped set up a dedicated account at a bank to provide scholarships to the children of […]

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“501(c) what?”: Sorting through jargon to determine deductibility

— Published 5/6/2021 When tax season rolls around each spring, a new crop of questions may arise concerning clients’ gifts to various organizations and whether those donations qualify as tax-deductible charitable contributions. Keep in mind that Section 501(c) of the Internal Revenue Code lays out the requirements for organizations to be considered tax-exempt–a status for […]

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Cox Charities 2021 Grant Cycle Opens: 5/3/21 to 5/28/21

— Published 5/3/2021 Apply online here Las Vegas, NV—Cox Communications, in partnership with its fiscal partner Nevada Community Foundation, is pleased to invite your nonprofit organization to apply for grants through Cox Charities. This is a special opportunity to receive funding for programs that support one or more of Cox Charities’ three philanthropic cornerstones: Education, […]

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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 […]

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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 […]

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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 […]

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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 […]

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