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One of the most common areas of concern in financial planning centers on gifts and their potential taxability. If you’re generous with family and friends, it’s crucial to understand whether their gifts will incur some sort of tax liability before…
Suppose you’ve got a leaky toilet in your bathroom. After trying without success to repair it yourself, you call a plumber who gets the job done in an hour. Normally, this would leave you with a hefty bill to pay – anywhere from…
We live in a society where service industries thrive by performing superior customer service. Because we live in a capitalistic economic system, a custom of rewarding superior customer service has developed through the use of tipping. Tipping is a controversial…
When I moved to Atlanta and started going to my current church, I wanted to get involved by joining a ministry. As it so happened, they were holding a ministry fair, and I decided to check it out. I walked…
Gift cards are popular for birthdays, graduations, and all other gift-giving occasions. They present a handy way to personalize an individual gift while still allowing the recipient to pick out what they like. In this article, we’ll go over the…
In popular media, there is a fascination with the differences between everyday Americans and the wealthy. However, in reality, the rich and the average American often use their money in the same ways. The rich routinely give to charity, and…
While a charitable remainder trust (CRT) can be an excellent tool for charitable giving and estate planning, a wealth replacement trust is sometimes a better option. When you establish a charitable remainder trust, you transfer appreciated property to an irrevocable…
Giving back doesn’t always have to mean making a large cash donation to your favorite charity. In fact, there are many different ways to support charities and nonprofits even when you’re low on funds. You may not realize it, but you…
It may be better to give than to receive, but receiving a tax break for their charitable giving is a good incentive for many taxpayers. According to Giving USA, total charitable contributions in 2019 reached an all-time high of $449.64…
‘Tis the season for cooking, baking, laughing, singing, and, of course, shopping. After all, what is the holiday season for if not the joy of giving? Whether you’re picking up a present for your mom, kids, or significant other, you probably…
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