Feb 9, 2021
The Tax Cuts and Jobs Act changed many aspects of our lives. For those who give to charity, it also had a massive impact on how we give. Many of the tax benefits associated with charitable giving have disappeared because of the increased standard deduction, and many organizations have been impacted by this change.
Joining me to talk about what happened and what to do about it is Chris Rigsby. Chris is from the Greater Kansas City Community Foundation, where he’s helping people find new ways to continue their charitable giving and take advantage of the updated tax code. His work is helping both the organizations that need donors and the donors themselves - a true win-win.
Today, Chris explains how the new tax code has changed charitable giving for his organization and others, the new tools available to donors to help take your money further, and tax benefits you can take advantage of as you prepare your return this year to support organizations you love.
In this podcast interview, you’ll learn:
- Why the new standard deduction in the Tax Cuts and Jobs Act impacted charitable giving.
- How “bunching” can benefit you as a donor and create a consistent cash flow stream for charities in need.
- How to set up a donor-advised fund for grants and giving.
- How money coming out of an IRA can be used to make a charitable donation without having to claim distributions.
- The unique benefits of working with an organization like the Greater Kansas City Community Foundation to manage your giving.
Get Today's Show Notes
To get a full recap of today's conversation, including the biggest takeaways, transcripts, and links to all the resources mentioned, visit GuidedRetirementShow.com/38
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