Clients want to know: What’s deductible and what’s not?

Clients want to know: What’s deductible and what’s not? Whether you are an estate planning attorney, financial advisor, or accountant, you’ve probably seen an uptick in client questions about tax deductions–and tax rules in general–over the last few years. Tax law changes at the end of 2017 have caused a lot of ongoing taxpayer confusion. To […]

Do good, feel better: Philanthropy through the lens of well-being

Do good, feel better: Philanthropy through the lens of well-being Philanthropy means “love of humanity”—and, according to some, “philanthropy” includes acts that benefit both the giver and the receiver. This is surprising to some people who have been taught “it’s better to give than to receive.” Somehow we have popularized the idea that giving should […]

Fourth quarter jitters: Charitable giving tips to reduce your stress

Fourth quarter jitters: Charitable giving tips to reduce your stress You are not alone if you begin to feel a little anxious when October rolls around. Many people experience year-end stress, whether because of looming deadlines at work, tax-related estate planning cut-off dates, anticipating a busy holiday season of travel and social engagements, or simply […]

The Community Foundation Awards $25,000 to….

The Community Foundation Awards $25,000 to…. Since 1998, twenty-five years ago, The Community Foundation of Harrisonburg and Rockingham County (TCFHR) has been a champion for this community, always thinking of donors’ interests and highlighting area needs. On October 5, TCFHR hosted a celebration for their 25 years of service to the Valley. The evening, set […]

Retirement strategies

Retirement strategies: Tax benefits and beyond At The Community Foundation, we regularly talk with retirement-age donors and fund holders about the tax benefits of Qualified Charitable Distributions and leaving bequests of IRAs to a donor-advised fund at The Community Foundation. But getting involved in philanthropy can be so much more than that for retirees and […]

For clients who may sell a business, the time to think charitably is right now

For clients who may sell a business, the time to think charitably is right now Business owners who’ve enjoyed summertime’s more relaxed energy can deservedly daydream about the “extended vacation” that comes with selling the business! While it all sounds good, business brokers will tell you that many business owners fail to optimize—and they sometimes […]

Keep your eye on clients’ appreciated stock–always

Keep your eye on clients’ appreciated stock–always Such a difference a year makes–maybe!? By August 2022, markets were down 12% for the year and inflation was up 8.3% year-over-year. Perhaps consequently, but then unknown, annual charitable giving was on its way to a rare (fourth time in 40 years) year-over year decline of some 4% […]

Relief from catch-up requirements: More money for charitable giving?

Relief from catch-up requirements: More money for charitable giving? Legislation known as SECURE 2.0 contained a dizzying array of changes to the laws governing retirement plans. Passed at the end of 2022, SECURE 2.0 is 130 pages long; overall, its purpose is to encourage more retirement savings through vehicles like employer-sponsored 401(k) plans. Lately, the […]

Rethinking inherited IRAs

Rethinking inherited IRAs As you build your estate plan and consider how to provide for your adult children, keep in mind that naming children as the beneficiary of an IRA or other qualified plan probably is not something that should be automatic. For starters, if you are charitably-minded and have other assets, such as highly-appreciated […]

Disaster relief efforts and The Community Foundation’s collaborative role

Disaster relief efforts and the community foundation’s collaborative role    Our hearts go out to the people of Maui—and all of Hawaii—in light of the tragic fires that occurred early in the month. By all accounts, those will take years, if not decades, to recover and rebuild from. Restoration costs are already estimated at $5.5 billion, […]

Helping your clients get organized: Structure is a critical step in multi-generational philanthropy

Helping your clients get organized: Structure is a critical step in multi-generational philanthropy Instilling the idea of charitable giving in children and grandchildren at first blush may appear to be easy, but where to begin, and how to make it ongoing? More and more, wealth advisors are being asked by their clients to weigh in […]

It’s (always) a great time to review your estate plan and legacy gifts

It’s (always) a great time to review your estate plan and legacy gifts Don’t forget that August is National Make-A-Will month. Even if your estate planning documents are already in place, this is still a good time to review your will, trust, and beneficiary designations to ensure that they still capture your financial and family […]