Charitable Giving Tool

To help with charitable giving decisions, the IRS recently launched a new online search tool called Exempt Organizations Select Check.  Among other things, this tool allows taxpayers to see if an organization is eligible to receive tax-deductible charitable contributions.  Users can search by various criteria including city, state, organization name, employer identification number (EIN) or deductibility status.  We would encourage you to visit this site prior to making gifts to your favorite charities. 

You may access the site from this link:  http://www.irs.gov/charities/article/0,,id=249767,00.html

It’s important to note that some entities eligible to receive tax deductible contributions are not part of this list.  For example, many churches which are included in group exemption letters may not be found.  Contributions to subordinate units of such organizations are often tax deductible under the central organization’s group exemption letter.  More information can be found in IRS Publication 4573.

Bait and Switch?

For years, American’s have saved for retirement through employer-sponsored retirement plans (i.e. 401ks) and personal retirement vehicles (i.e. IRAs).  The income tax incentives provided are primarily what make these plans so attractive for savers, and until recently there has been little doubt that these benefits will remain.

December 2011 Market and Planning Update

PLANNING COMMENTARY

Our end of year practice always includes a revisit of key assumptions used in client wealth planning.  We would like to provide a very brief summary of the assumption changes we are implementing for 2012.  Note that these long-term assumptions are being used over a typical clients planning time horizon and are illustrations of what we anticipate prospectively versus simply a measure of what has happened in the past.  READ MORE

INVESTMENT COMMENTARY

We entered 2011 with much hope and promise since the economy was showing signs of continued improvement.  However, extreme volatility took over last year due to Japan’s Tsunami, Libya and other middle-east unrest, a spike in oil prices, Europe’s debt crisis resurfaced, fears of another recession lingered, Congress continued its dysfunctional ways and then the U.S. credit rating was downgraded.  Through all this unrest, our economy showed tremendous resilience.  Investors are pleading for a smoother and much calmer market for 2012.  Unfortunately, we’re not likely to have that.  Uncertainty continues so we’d expect more volatility in the markets.  READ MORE