In an age where philanthropy plays a crucial role in supporting communities, understanding the nuances of charitable giving is essential. Qualified charitable distributions (QCDs) offer unique tax advantages, making them an attractive option for many donors. As we move into the holidays and the season of giving, it’s a great time to explore the benefits … Continued
While you are probably familiar with the term cost basis, it is not likely something you think about very often. In fact, you may only think about cost basis information when asked for it by your Sand Hill Wealth Manager or CPA. Cost basis—also known as tax basis—is necessary to determine the capital gain or … Continued
If you’re a fan of Albert Brooks like I am, you’ve no doubt seen the 1985 movie classic Lost in America in which the protagonists sell all their belongings and purchase a Winnebago where they plan to live out the rest of their post-retirement days traveling the open road and living off their nest egg. … Continued
Donor-advised funds (DAF) have become increasingly popular in recent years for individuals supporting various ongoing philanthropic causes, especially given their ease of achieving a potentially large tax-deductible contribution in any one given year but then allowing for the payout of possibly many different underlying charitable donations to occur over time (see “Hassle–Free Philanthropy”). For example, … Continued
A donor-advised fund (DAF) is a charitable giving vehicle administered by a public charity that allows a donor to contribute, receive an immediate tax deduction, and recommend grants to charitable 501(c)3 organizations from the fund over time. There are several considerations when using a DAF that will help you make the most of their benefits. … Continued
Fueled by the advance of technology, flexibility of remote work, continued expansion of global business, and desirable cost of living tradeoffs for retirees, the ranks of American expats continue to swell. Per the U.S. State Department, in 2020, roughly nine million Americans lived abroad, while a 2022 Gallup poll revealed 15% of Americans would like … Continued
January 31, 2023 Chefs, from the classically trained to the rock-and-roll celebrity types, cling tightly to the concept of mise-en-place when running their kitchens. French for ‘putting in place’ and a concept derived from the military, mise-en-place is the tightly coordinated planning and organization of the inputs needed to precisely execute the production of a … Continued
January 31, 2023 If you have been considering a Roth IRA conversion—which is simply a transfer of assets from a Traditional (tax-deferred) IRA to a Roth (tax-free) IRA—but have been hesitant because of the associated tax bill, 2023 might provide just the moment you have been waiting for. With expanded tax brackets now in place … Continued
January 31, 2023 It is the start of a new year and if you are one for making resolutions, now is a great time to add some financial planning resolutions to your list. Or, at a minimum, keeping tabs on some of the recent updates to tax and retirement limits will make sure you start … Continued
As the year-end approaches, now is an ideal time to review strategic planning opportunities and preview what lies ahead in 2023. We encourage you to discuss these planning topics with your Sand Hill Wealth Manager. Retirement Planning In 2023, retirement plan contributions for 401(k)s, 403(b)s, and most 457 plans will increase to $22,500 with an … Continued