Blog posts from Rodgers & Associates on the topic of charitable giving
Ask the Adviser: What are Some Common Estate Planning Mistakes?
You’ve worked hard to build your nest egg. But are you sure your legacy is secure? Many people make critical errors by assuming a Will covers everything or by missing key tax-saving opportunities. Here are three common estate planning mistakes to avoid.
The Risks of Adding Your Child to Your Home’s Deed
Thinking of adding your child to your home’s deed to avoid probate or taxes? It might backfire. Explore the legal, tax, and family risks—and safer alternatives.
Five Strategies for Gifting to Adult Children
Giving your children money during your lifetime can be helpful for them and fulfilling for you. There’s a delicate balance, though.
Ask the Adviser: Are Gifts to Children Tax-Deductible?
Although gifts to individuals are not tax deductible, you can get a partial deduction for money that will eventually go to your children.
Ask the Adviser: How can I start planning a tax-efficient 2025?
While we can’t be certain about all the possible changes, we do know that some legislation passed in previous years will begin to take effect in January.
Your 2024 Guide to Year-End Tax Planning
Reducing your tax liability means taking advantage of regulatory updates. We’ll look at some of the year’s tax law changes and opportunities.
Ask the Adviser: What are the benefits of using a donor-advised fund?
If charitable giving is part of your long-term financial plan, a donor-advised fund can help you tap into greater tax benefits and more easily direct your giving.
Ask the Adviser: How should I use beneficiary designations in my estate plan?
Directing some assets through beneficiaries and others through your will can reduce taxes for your heirs. Here’s what to consider.
Family Meetings: Planning for Wealth Transfer and Philanthropy
It takes a lot of planning and conversation to transfer wisdom along with wealth. Here’s how the practice of family meetings can help.
How to Reduce (or Avoid!) Taxes on Social Security Benefits
These five strategies can minimize the taxes you’ll pay on Social Security and help extend the life of your nest egg.
Recapping Market Highlights and Most-Read Articles from 2023
This past year, we covered topics ranging from inflation and legislative changes to RMDs and asset allocation. Here is an overview.
Ask the Adviser: How do I handle the taxes on inheritance from a PA resident?
Whether you’ve inherited property or other assets, here’s what to know about settling the tax bill in Pennsylvania.
Are You Maximizing the Tax Benefit of Your Charitable Gifts?
The IRS is not trying to discourage charitable giving. It is tightening requirements to limit abuses.
Whether You Are Retiring Now or in 10 Years, the Consolidated Appropriations Act Could Help You Save
Some changes take effect this year, and others are delayed until 2024, 2025, 2026, or even 2033.
Ask the Adviser: How can I best maintain my financial plan?
Much like caring for a vehicle, financial planning is an ongoing process—not a once-and-done event.
Learn These IRA Rules to Avoid Costly Penalties
Full of tricky timing concerns, the rules for IRA withdrawals are commonly misunderstood. Here, we explain five of them.
Five Common Mistakes When Taking Qualified Charitable Distributions From Your IRA
Making charitable gifts from your IRA instead of your checkbook can be an excellent tax management strategy. Doing so helps you to fulfill your required minimum distribution while reducing taxable income dollar for dollar.
You May Be Able to Reduce the Taxes from Inherited Assets
If you’re the beneficiary of retirement accounts or other inherited assets, it pays to learn about the IRD deduction.
9 Retirement Decisions You’ll Want To Make With a Specialist
It’s wise to use an adviser whose primary focus is on strategies that maximize the retirement experience.
12 Ways to Avoid a Penalty on Early Withdrawals
If money is taken from an IRA before age 59 1/2, a 10% excise tax penalty is applied to the amounts withdrawn—unless it meets one of the twelve exceptions.
Annuity Traps Part 2: Death Benefits
While annuities can be an important way to build wealth, many individuals don’t realize how complicated these insurance products can be. In this article, we’ll walk you through what you need to know about annuity contracts and the five-year-rule.
What You Need to Know About RMDs
Many clients have questions about when they need to withdraw money from their IRAs and what the rules are for Required Minimum Distributions (RMDs). Learn how to evaluate distribution options and avoid penalties that arise when RMDs are not met.
In Successful Wealth Transfers, Trust May Be More Important than Trusts
Why do the majority of wealth transfers fail? Learn how to have the right conversations with your heirs now so they can learn how to properly manage their inheritance.
Are You Missing Out on These 3 Common Tax Strategies for Retirees?
There are a few tax strategies for retirees that could increase your refund or at least help to trim the tax you owe.
What Lessons Can Philanthropy Teach Us?
Merriam-Webster defines philanthropy as “goodwill to fellow members of the human race, an active effort to promote human welfare, or an act or gift done or made for humanitarian purposes.”…
Under TCJA, can Investment Advisory Fees Still have a Tax Benefit?
Many taxpayers have filed their returns for 2017 and are grateful tax season is behind them. Tax planning for 2018 is probably one of the last things they want to…
How We Choose Funds for our Clients’ Investment Portfolios
The Dow Jones Industrial Average has just passed 23,000 as I am writing this newsletter. Clients typically ask if there are any good places to invest, and this topic comes up…
What Does It Mean to Be a “Retirement Specialist”?
The Rodgers & Associates logo includes “The Retirement Specialists.” The home page of our website says we “specialize in financial planning for those who are retired or expect to retire within…
How to Deal with the Death of a Spouse From a Financial Perspective
It will come as no surprise that the death of a spouse is consistently listed as one of the most stressful life events a person will face. Death is part of life…
Teach Your Children Well – Or They Are Likely to Waste Their Inheritance
Studies estimate the baby boom generation is set to inherit $11.6 trillion over the next 20 years from their parents. The baby boomers are expected to pass on as much…
