Tax-Wise Giving

This is a great time of year to review ways to give that are the most beneficial to you. The following options are good starting points for conversation with your team of advisors*:

Ira Required Minimum Distribution

Anyone turning 72 in 2022 will have until April 1, 2023 to make their first required minimum distribution from their IRA, with a second required by December 31, 2023. All subsequent required minimum distributions must occur by December 31 of each year.

APPRECIATED STOCK, MUTUAL FUNDS, OR BONDS

Donating investments especially highly appreciated securities you’ve held for more than a year is even smarter than giving cash. If you donate stock that has increased in value since you bought it more than a year ago, you can take a charitable deduction for the stock’s fair market value on the day you give it away. You’ll also avoid capital-gains taxes on the increase in value, which you would have had to pay if you sold the stock and then donated the cash.

Donor Advised Funds

Some financial advisors are suggesting that their clients give every other year to maximize their deduction. However, using a Donor Advised Fund through a community foundation will allow you to continue making annual gifts to support NLOM’s work while also maximizing the tax advantages.

For more information about ways to give to NLOM, contact Jason Gerdes at JGerdes@NLOM.org or 402-944-2544.

*Consult your financial advisor, CPA, or tax professional about your individual situation.

January 21-22, 2023

CJHCenter.org/hs-retreat