COGNIGENCE

Tax & accounting

resource center

Every tax season presents its own unique challenges, and we are providing leading-edge resources and education to help you provide solutions for your clients in the area of charitable donations, impact investing and how to leverage these in their tax planning strategy to reduce tax liabilities.

Professional Resources

Charitable Organizations

Organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements are tax exempt under Internal Revenue Code Section 501(c)(3).

Guiding families in their philanthropic endeavors | podcast

Family office clients have complex planning issues. It’s helpful to collaborate with a team of advisors and not feel like you must have all the answers. It is often valuable to begin the engagement by having conversations about what matters most to the family and for their legacy.

Using IRAs to fund charitable causes | podcast

Clients who have large IRAs and are charitably inclined may benefit from making a qualified charitable distribution (QCD) or naming a charity as the beneficiary of their IRA. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck, ChFC, discuss how to approach these opportunities with clients.

The power of the simplified charitable lead annuity trust (CLAT)| PFP learning library podcast archive

If you have clients who typically donate between 10k and 50k to charity each year, they may be ideal candidates for the reversionary grantor CLAT (aka simplified CLAT). This planning solution works best in a low interest rate environment.

Donor Resources

Charitable Donations

With the enactment of the 2017 Tax Cuts and Jobs Act (TCJA), Schedule A, Itemized Deductions, was modified to the detriment of many taxpayers.

Everything You Need To Know About Your Tax-Deductible Donation

A tax-deductible donation must meet certain criteria to qualify and count against your taxes. See if a donation is deductible and if it will lower your tax bill.

2023 tax rules and tips for easier, cost-effective charitable giving

It's during the holiday season that people in the U.S. typically make roughly one-third of their annual donations to charity, moved by both generosity and the December 31 deadline for securing tax deductions.

Your Charitable Deductions Tax Guide

With the recent 2023 IRS updates due to inflation as well as any personal changes (a new job, home, or medical expense), it’s a smart time to tune up your tax strategy and see how you can maximize your charitable contributions and continue making an impact on the causes and organizations you care about.