Professional Advisor Resources
As a valued professional advisor, you are kept informed of the latest trends in charitable giving, community issues and resources for your clients. To stay informed, please subscribe to our Professional Advisor E-News publication (link to sign up page) or read the latest issue of our newsletter, Philantropic News. Featured below is a current item that may be of interest to you.
Roth IRA: Charitable Opportunities in Roth IRA Conversions
Many Americans may want to consider converting their IRAs to Roth IRAs in 2012. If done however, the value of each converted IRA is added to their adjusted gross income and some may find they have a large tax liability. One way community foundations can help tax advisors is to suggest offsetting high income years with strategic tax deductions, specifically charitable gifts. The Community Foundation is providing the following helpful resources for donors and professional advisors regarding this Roth IRA opportunity.
Please note: These resources are not intended to serve as legal guidance. Please consult legal or tax professionals and the Internal Revenue Service for further information and explanation.
Danielle Blangy CameronV.P.for Personal and Family Philanthropy
“It was a pleasure to partner with the Community Foundation to achieve our client’s estate planning goals. The intended gift and the charitable lead trust involved a rather complicated set of facts and tax issues. Without the Community Foundation’s involvement, the client’s wishes might have been frustrated.”
-Erik E. Joh, Esq.