5 Things to Know about Donor Advised Funds

5 Things to Know about Donor Advised Funds

What is a donor-advised fund? A donor-advised fund (DAF) is like a personal charitable giving savings account.  It allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the fund over time.  The donor can...
Individual Year End Planning

Individual Year End Planning

As 2020 closes, we can agree that this year was unlike any other; the pandemic, natural disasters, and expected future tax law changes following the election have had a significant impact on many taxpayers. In response to the pandemic, Congress passed two major pieces...
The Silver Lining of Decreased Income During the Pandemic

The Silver Lining of Decreased Income During the Pandemic

While many individuals are struggling financially during the COVID-19 pandemic, there are tax planning strategies that can be implemented now for long term income tax savings. Convert IRA to ROTH IRA – If the value of your IRA has taken a dive during this...
California’s Conformity to the Federal CARES Act

California’s Conformity to the Federal CARES Act

The California Franchise Tax Board (FTB) recently announced their conformity and non-conformity to the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.  Some important highlights are: The stimulus checks from the federal government enacted under the...