Category: Blog

Cashless Charitable Contributions

5 min read

Cashless Charitable Contributions, form 8283

Not everyone can make large charitable contributions. But there are ways to be charitable without spending your discretionary income while at the same time lowering your tax bill. Even those who can make large donations benefit from the tax advantages of a cashless donation. The following are ideas for cashless contributions to causes you are passionate about.

Tax Rules

The main thing to remember is that charities are not required to pay taxes on donations (cashless or otherwise). This can make your donation more valuable to them than it would be to you. Note, too, that if your itemized deductions are below the Standard Deduction for your tax filing status, gifting a high-value asset can put you over that cap and provide substantial savings on your tax bill.

The IRS sets limits on deductions for non-cash donations. Contributions of appreciated long-term assets such as stocks or real estate are subject to a limit of 30 percent of adjusted gross income, while other types of non-cash property donations have a 50 percent limit. Cash donations, on the other hand, have a higher limit at 60 percent of AGI. Even so, if the value of the contribution is higher than your deduction limit, you may carry over the excess for up to five years, subject to those same AGI limitations.

Non-cash donations are particularly beneficial for donors in a year they receive a windfall or unexpectedly high income.

Securities

If you own highly appreciated stock, you can donate it to a 501(c)(3) charity and claim the fair market value as a tax deduction. You won’t have to pay taxes on the earnings because you gifted them, nor will the charity once the stock is liquidated for its needs. Consider gifting stock to a charity when you rebalance your portfolio to both reduce the potential tax bill on earnings and reposition the overall portfolio to your target allocation.

Equity Compensation

You may have received employer company stock as a bonus or through an Employee Stock Purchase Plan (ESPP). Consider transferring one or more shares to a charity as a donation. Note that with ESPP shares, you need to have held them for more than two years from the grant date and one year from the purchase date to optimize your tax deduction.

Qualified Charitable Distribution

Traditional IRA owners are required to begin taking an annual minimum distribution (RMD) starting at a specific age. As of 2025, the rules are:

  • 72 if born before Jan. 1, 1951
  • 73 if born between Jan. 1, 1951, and Dec. 31, 1959
  • 75 if born on or after Jan. 1, 1960

However, some people may still be working or have a high income for which RMDs place them in a higher tax bracket. What they can do is make a qualified charitable distribution (QCD) up to $100,000,so that all or a portion of their RMD is sent directly to the charity of their choice. While this tactic does not offer a tax deduction, it does satisfy the IRA owner’s RMD requirement, which essentially reduces their income tax burden.

Real Estate

If you purchased or inherited a piece of property, be it a residential home, undeveloped land, a commercial building or rental property, there are benefits to granting it as a cashless charitable donation. The strategy is best optimized if you’ve owned the property for more than one year, enabling you to avoid capital gains taxes and claim a fair market value charitable deduction for the tax year of the gift.

Automobile

Perhaps you have a spare car you never drive but continue to maintain and insure. Instead, consider donating it to a charity. First, ensure that the charity of your choice will accept a vehicle donation. In some cases, a charity may not even require that the car be in working condition, as it may sell or auction it to raise cash. While most charities will arrange to have the automobile picked up, you will need to remove the license plates and sign over the car title to the organization. You can determine the fair market value (to claim as a tax deduction) by researching pricing guides like Kelly Blue Book or Edmunds.

Collectibles/Art

Some folks collect or inherit items they don’t want anymore. Instead of selling them on Facebook, consider donating them to a charity. First, establish a value for the item(s); for items worth more than $5,000,you’ll need to get a qualified appraisal to determine your tax deduction. Also, make sure the charity of your choice will accept the collectible.

Life Insurance

For an individual who no longer needs their permanent life insurance policy, transferring policy ownership to a charity may be more advantageous than surrendering it and paying taxes on the policy’s appreciation. Donating the policy eliminates your tax liability and qualifies for a deduction. The deduction is the lesser of the policy’s cash value or the cost basis (i.e., premiums paid to date).

Another option is to simply change the beneficiary on your life policy to the charity you choose. You won’t receive a tax deduction until the policy pays out after your death, at which point your estate can claim it.

Time

Don’t forget that in many cases you can donate your time instead of money. Seek out charities that need volunteers, from specific skills and expertise to help with cleaning, delivering, and organizing events.

7 Remote Jobs That Provide Training

4 min read

7 Remote Jobs That Provide TrainingIf you’ve ever longed for a remote job but weren’t sure how to make it happen, then take note. Not only are all these jobs work from home (WFH), but they also provide training. Some even provide the equipment and steady hours right from the start. Whether you’re between jobs or want to switch careers, check out these positions. One of them could be a perfect fit.

Amazon Virtual Customer Service Associate

With this job, you’ll get three to four weeks of paid training before you even start working with customers. Pretty great, right? They also teach you how to manage orders and solve issues using internal tools. In fact, you’ll be provided with a desktop computer, a microphone, and a headset. All you’ll need is reliable internet. You’ll interact with everyone from customers and drivers to shippers and Delivery Service Partners. Best of all, there’s no script to learn; they encourage you to be your authentic self. The job offers part-time and full-time options, and roles are open year-round across many parts of the United States.

Apple At-Home Advisor

For Mac lovers, this is your dream job because guess what you’ll get with this job? That’s right: a Mac – plus other tools to get started. Your training will be remote and paid. During this time, you’ll be introduced to product support, the accompanying issues customers fac,e and problems related to their orders. If you’re up for dealing with people, then this job is for you. Many advisors stay long-term, thanks to strong internal mobility and a supportive team culture.

Dell Remote Tech Support Specialist

If you’re a PC kind of person and comfortable with tech, Dell’s paid training will help you troubleshoot issues for customers right from home sweet home. You’ll also enjoy solid benefits and receive discounts on devices and tools. Lots of people climb the ladder, moving up into engineering or systems roles after gaining on-the-job experience.

Hyatt Remote Guest Services Associate

Ever called guest services when you’re at a hotel? If so, then these folks are likely who you talked to. During your paid training, you’ll receive all the equipment you need and learn how to not only assist customers, but also uphold brand standards, which translates to just being a decent, empathetic human. Many people find long-term stability here and, after some experience, move up into leadership roles.

Hilton Remote Reservations Sales Specialist

Four to seven weeks is all it takes to be trained for this job. It’s fully online and focused on helping you master their booking and support systems. After training, you’ll earn incentives and gain access to generous hotel discounts as a full employee. If you’ve got a travel bug, this is for you.

Prudential Financial Remote Customer Service Representative

This paid training can last up to 10 weeks, but afterward, you’ll be fully set up to understand their systems, policies, and customer needs. Should you become full-time, you’ll get 401(k) matching and tuition support. If you want to get your foot in the door with finances, this is a smart path, especially if you’re switching careers later in life.

Progressive Insurance Work-From-Home Claims Representative

In this position, you’ll be trained (and paid) to learn how to handle real-world claims. You’ll help customers recover after accidents while also gaining valuable experience in one of the country’s leading insurance firms. Better still, you’ll also have access to stock options and opportunities for advancement.

No matter where you are in your professional life, paid training is the way to go; it makes remote jobs so much easier to attain – and succeed in. So, if you’re ready to learn a new skill in the comforts of home, this kind of work might well be in your future.

Sources

15 Work-From-Home Jobs That Provide Paid Training – The Penny Hoarder

Restricted Stock Units: 5 Essential Tax and Financial Planning Strategies

4 min read

Restricted Stock Units, RSUsReceiving restricted stock units (RSUs) may seem straightforward, but the tax and financial planning complexities can catch many employees off guard. Understanding these key strategies might help you avoid costly mistakes and optimize your financial outcomes.

1. Manage Tax Withholding at Vesting

The most common pitfall with RSUs is inadequate tax withholding when shares vest. Companies typically withhold taxes at a flat 22 percent rate for federal taxes (37 percent for amounts over $1 million annually), but this often falls short of your actual tax obligation. Financial planners identify this as the biggest issue they see with RSU clients. Many are surprised by large tax bills because the withholding didn’t cover their full liability.

Managing proper tax withholding is often the primary focus of RSU planning. The challenge becomes even more complex when stock prices are volatile, making it difficult to predict exact tax obligations.

Higher RSU income increases the likelihood of under-withholding. When shares can’t be sold to cover additional taxes, alternative payment methods must be planned. Quarterly estimated taxes are one option, though this becomes complicated when the current year income differs significantly from the prior year.

The most effective approach is to conduct quarterly tax projections or work with a CPA to maintain compliance with safe harbor requirements for federal taxes throughout the year.

2. Comprehensive RSU Planning Questions

While RSUs appear simpler than stock options due to their fixed vesting schedules, this perception can be misleading. Financial advisors warn that numerous organizational details can create problems without proper planning.

Key planning considerations include potential state moves during vesting periods, which trigger mobility tax issues, and coordination with ESPP purchases and stock option exercises to avoid wash sale complications. Essential questions for RSU planning include understanding personal goals, assessing wealth concentration levels, determining how much needs to be diversified, ensuring spouse awareness of concentration risks, analyzing the ratio of vested to unvested shares, tracking upcoming vests and trading windows, and evaluating prior year income impacts.

A critical concern is spousal awareness of company stock concentration. Financial planners frequently encounter situations where busy tech employees accumulate significant wealth while their spouses remain unaware that their entire financial security depends on one company’s stock performance.

3. Reduce Taxable Income During Vesting Years

Beyond harvesting capital losses, several strategies can reduce your overall tax burden in years when RSUs vest. These include maximizing 401(k) deferrals, funding Health Savings Accounts, participating in nonqualified deferred compensation plans if available, and donating appreciated company stock to donor-advised funds to exceed standard deduction thresholds.

4. The Hold Versus Sell Decision

Once RSUs vest and you own the shares, deciding whether to hold or sell becomes crucial. Financial advisors routinely recommend selling RSU shares immediately upon vesting, before significant price fluctuations occur. This recommendation is particularly strong for clients already holding substantial company stock positions, as additional concentration increases unnecessary risk.

Many clients choose to sell immediately and deploy proceeds toward other financial goals. This approach helps diversify their overall portfolio and reduces company-specific risk.

5. Navigate Trading Windows

RSU selling plans must account for company trading windows, which dictate when employees can sell shares. Understanding these restrictions is essential for effective RSU management.

When advisors recommend selling RSUs at vesting, they don’t mean selling on the exact vesting date. Instead, they mean selling when trading windows permit, typically after earnings calls. These windows usually last four to six weeks, and while exact dates can’t be predicted far in advance, historical patterns provide reasonable estimates.

Financial planners coordinate clients’ RSU vesting schedules with anticipated trading windows to develop realistic selling strategies. This coordination ensures clients can execute their plans within company restrictions while maintaining compliance with insider trading rules and any existing 10b5-1 trading plans.

Conclusion

Proper RSU planning requires understanding these interconnected elements and developing strategies that align with your broader financial goals while managing tax implications effectively.

Young Adults: Why Buy Life Insurance?

4 min read

Young Adults: Why Buy Life Insurance?Young adults may not see much reason to purchase life insurance, especially if they have no dependents and/or a partner who makes plenty of money. However, there are several reasons why folks in this situation would want to consider various forms of life insurance.

To Pay Off Debt

Let’s say your parents cosigned for your student loans, car loan or other debts. Should you pass away, your cosigner will be liable to pay off the debt. However, if you name that person the beneficiary of your life policy, he or she can use the benefit to pay off the debt.

Breadwinner

If you are the breadwinner in your household, imagine how your spouse or partner would fare without your income. By naming that person beneficiary of your life insurance policy, you can leave a death benefit to help cushion the blow. This is particularly important if you have shared debt, such as a mortgage.

Stay-At-Home Parent or Spouse

Even people without a traditional salary should consider life insurance coverage. After all, they may provide services that are expensive to replace, such as cooking, cleaning, shopping, and childcare. Even a small life insurance payout can help a working partner cover these expenses during a difficult time.

To Prepare for Future Needs

There are life insurance policies that work double duty – issue a payout upon death as well as build a savings account. For example, whole life and universal life insurance policies use a portion of the premium to build cash value, which can be used for future expenses like the down payment for a house.

Cheaper Now Than Later

Another good reason to buy life insurance when you’re young is that premiums are lower the younger and healthier you are.

Employer Versus Independent Policy

Many employers offer a basic life insurance policy with the option to increase the death benefit by paying a higher premium. Depending on your circumstances and goals, it may be worthwhile to purchase a life policy separate from your employer. This can give you extra coverage and is portable in case you get laid off or decide to start your own business.

Other Adulting Tips

  • Start saving and investing for retirement when you’re young. The power of interest compounding over time works the way credit card debt compounds – but in an investment account, the money that compounds belongs to you. This means you can earn a lot more by the time you retire than if you wait until your 30s or 40s to start investing (even if you contribute more at those ages).
  • If your employer offers a 401(k) plan, take advantage of any free money. Many employers offer matching contributions up to a certain limit, so even if you defer only a small amount of income to your 401(k), your employer will typically double it.
  • Another good investment vehicle for young adults is the Roth IRA. You can save up to  $7,000 a year (2025) in a Roth and tap your contributions at any time for any reason. This makes a great double-duty investment that can also serve as an emergency fund, a short-term savings fund for a new car or down payment for a house, and, ultimately, for retirement. The only taxes you pay are on the net investment gains above your original contributions, and even that is tax-free after age 59½. If you don’t have spare income to contribute to a Roth, remember it’s a good vehicle to open when you receive a raise or a bonus.
  • Lots of young adults test their potential parenting skills by adopting a pet, and may wonder if it’s worthwhile to buy pet insurance. First of all, shop around for quotes because you may find that it is surprisingly affordable. The next variable to consider is the age of your pet. If you adopt a young pet, premiums will likely be cheape,r and you’ll be able to renew your insurance each year with little problem and reasonable increases. However, if you prefer to adopt an older pet, or a purebred known for significant health issues, you may find premiums are significantly higher and, at some point, you may no longer be able to renew your pet insurance policy. Keep these guidelines in mind when considering whether or not you can afford a pet.

The Big Beautiful Bill, Rolling Back Public Television and Radio, and Regulating the Cryptocurrency Industry

4 min read

The Big Beautiful BillOne Big Beautiful Bill Act (HR 1) – Introduced by Rep. Jody Arrington (R-TX) on May 20, this bill passed in the House on May 22, the Senate with changes on July 1, and once again in the House on July 3. Signed into law on July 4, this bill includes the following provisions:

  • Makes permanent the income and estate tax provisions passed in the Tax Cuts and Jobs Act of 2017.
  • Increases the annual limit to $7,500 for Dependent Care Flexible Spending Accounts (FSAs), starting in 2026.
  • Makes permanent the ability for employers to offer tax-free student loan repayment assistance up to $5,250 a year, with the cap indexed for inflation.
  • Starting in 2026, new tax-advantaged “Trump Account” savings plans may be opened for eligible children under age 18. The account will receive a one-time $1,000 deposit by the government (for children born in 2025 through 2028) and allow for non-deductible/after-tax contributions of up to $5,000 a year (indexed for inflation). However, note that funds cannot be withdrawn before the beneficiary turns 18, and money withdrawn before age 59½ is subject to both income taxes and a 10 percent penalty (with exceptions for college tuition and a first-time home purchase).
  • While the bill calls for untaxed tips and overtime pay, this tax break will be delivered in the form of a deduction claimed on individual tax returns. For cash or charged tips, up to $25,000; for overtime pay, the deduction is up to $12,500/$25,000 for joint filers. Phase-out deductions will apply to both based on income.
  • Allows up to a $10,000 tax deduction for interest paid on an auto loan used to purchase a qualified vehicle.
  • New tax deduction for seniors age 65+: $6,000 for single filers; $12,000 for joint filers.
  • The bill does not include an extension of the enhanced credits for the Affordable Care Act, scheduled to expire at the end of the year. This is expected to increase average exchange health insurance premiums by 75 percent starting next year.

Relating to consideration of the Senate amendment to the bill (H.R. 4) to rescind certain budget authority proposed to be rescinded in special messages transmitted to the Congress by the president on June 3, in accordance with section 1012(a) of the Congressional Budget and Impoundment Control Act of 1974 (HRes 590) – On July 17, Rep. Virginia Foxx (R-NC) introduced this rescissions bill, which essentially cuts $1 billion from the Corporation for Public Broadcasting (CBP). The CBP is a private, nonprofit corporation that was authorized by Congress in 1967 to be the steward of the federal government’s investment in public broadcasting. The elimination of this federal funding will force many local public radio and television stations to shut down. The legislation, which also rescinds $8 billion from a variety of foreign aid programs, was passed as a House rule that enabled full passage of the rescissions bill due to a provision that avoids a direct vote on the bill. The bill passed in the House on July 18 and does not require approval by the Senate or to be signed into law by the president.

GENIUS Act (S 1582) – Introduced by Sen. Bill Hagerty (R-TN) on May 1, this legislation is designed to regulate the currently unregulated cryptocurrency industry. The Act requires issuers to back stablecoins on at least a $1-to-$1 basis. The bill is intended to set guardrails for the industry via full reserve backing, monthly audits, and anti-money laundering compliance regulations. This bill also enables a wider range of issuers to enter the market, including banks, fintechs, and major retailers. The legislation was passed in the Senate on June 17, the House on July 1,7, and was signed into law on July 18.

Anti-CBDC Surveillance State Act (HR 1919) – Introduced by Rep. Tom Emmer (R-MN) on March 6, this is a companion bill to the Genius Act. It would prohibit Federal Reserve Banks from offering certain products or services directly to individuals and disallow the use of central bank digital currency for monetary policy, among other provisions (CBDC stands for Central Bank Digital Currency). The bill passed in the House on July 17 and currently awaits its fate in the Senate.

Digital Asset Market Clarity Act of 2025 (HR 3633) – Another Genius Act companion bill, the goal of this legislation is to provide a regulatory system by the Securities and Exchange Commission and the Commodity Futures Trading Commission for the sale of digital commodities. The bill was introduced on May 29 by Rep. French Hill (R-AR), passed in the House on July 17, and currently lies with the Senate.