As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted…Read More
The heightened fundraising needs many nonprofits are feeling right now make it important that potential donors understand the tax benefits they stand to reap. Here are some of the advantages you should convey to encourage their support. Temporary incentives The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted in late March, expands the…Read More
Financial transactions increasingly are being conducted online — and that includes charitable donations. The Blackbaud Institute for Philanthropic Impact reports that online giving grew more than 17% between 2016 and 2018. For nonprofits without the appropriate IT infrastructure and security policies, such increased online donations can also mean greater cybercrime risk. Many nonprofits blame budgetary…Read More
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