Advisors

We can help when you have clients who need to:

  • make a charitable contribution to offset capital gains and other taxes
  • distribute IRS required 5% from their private foundations
  • transfer equities or other assets to a charitable gift
  • take minimum distribution from their IRA
  • make a charitable contribution for the year

Remember that we are here for you and your clients 24/7. Our expert staff can assist you with transferring any types of assets.

Private Foundation vs. Donor Advised Fund 

There are significant tax advantages to establishing a Donor Advised Fund (DAF) at The Miami Foundation versus opening a private foundation. A recent Forbes article highlighted a couple who chose a DAF at their local community foundation:

You make your contribution and claim your tax deduction now, then donate to charities over years or decades, while your charitable dollars are invested and growing tax free or nearly tax free.

Charitable Lead Annuity Trusts

Charitable Lead Annuity Trusts (CLATs) are still extremely attractive at a rate of 1.4% AFR. Jeffrey Baskies' presentation "Using a Charitable Lead Trust for you, your heirs and for our Community Foundation" shows how important they are to your clients. A few of his slides are available here. For more information on CLATs click here.

In the News

Proposed White House Budget Affects Charitable Deductions for the Wealthy: Under the recently proposed White House budget plan, deductions for tax breaks on contributions to charities would be capped at a maximum rate of 28%. This would limit the value of breaks to the top 3% of taxpayers who face higher marginal tax rates and generate about $529 billion in additional revenue over 10 years.  Click here to read more.

Council on Foundation Opposes Proposed Cap on Charitable Deduction in President's Budget
Council President and CEO Vikki Spruill recently released a statementregarding the President's FY2014 Budget. She stated that the organization “continues to be dismayed by the president’s insistence on capping the charitable tax deduction. It amounts to a dangerous experiment with America’s nonprofit sector, providing support for some causes while undercutting crucial private contributions, a core source of support necessary for their survival.” Click here to read more.

IRA Chartiable Rollover: Congressional legislation extended the IRA Charitable Rollover for individuals who are 70 and a half years and older. It allows them to transfer up to $100,000 from their IRA to a charity without incurring federal income taxes today or estate taxes in the future. The Rollover expires December 31, 2013.  We have several community investment options for donors with an IRA distribution, including:

  •  A Designated Fund to benefit a favorite charity
  • A Field-of-Interest Fund to ensure resources are forever available for causes close to a donor's heart

Click on the image belowto to hear Natalie Choate discuss Charitable IRA Rollover at Heckerling.

 

When we can be of assistance, please call 305.371.2711.