Tax Smart Charitable Giving, Especially with Retirement Assets: Takeaways from September's Distinguished Speakers Series

Thank you to everyone who attended the September Distinguished Speakers Series program, and a special thanks to our speaker, Christopher Hoyt. The event had a great turnout, with more than 50 attendees learning about maximizing charitable giving and retirement assets with the program held at Michael's on East.

Tax Smart Charitable Giving, Especially with Retirement Assets

During the program, Christopher Hoyt presented on the challenges caused by the 2017 Tax Cuts and Jobs Act and provided tax-saving strategies for donors, including "bunching" gifts with donor advised funds and making qualified charitable distributions (QCDs) from IRAs. He described which assets will generate the greatest tax savings for a charitable gift, thereby reducing the effective cost of the charitable gift. He also covered reasons why retirement assets are generally difficult to donate to charity, and special rules and situations when they can best be used. Finally, he described situations in where naming a CRT that will provide lifetime income to a child can be better than naming the child as an outright beneficiary of a retirement account.

Be sure to mark your calendars for our next Distinguished Speakers Series program in November with speaker Alan Rothschild, Jr., Esq..