Making a tax-planning list? Here are three things to check twice!

Are the holidays AND tax planning on your mind? If you mentally raised your hand, you’re not alone. This time of year, along with all the holiday happenings, many people are also thinking about end-of-year tax planning. One important thing to keep in mind? The looming potential tax changes. 

We chatted with one of the Community Foundation’s top Professional Advisors Scott Phelan, executive vice president of Wealth Management/Financial Advisor at Janney Montgomery Scott, about some of these changes. Here are some things you should consider and talk to your own professional advisor about before time runs out this year.

  • Tax Increases for high-income individuals
  • New limit on contributions to Roth and traditional IRAs
  • New required minimum distributions for large aggregate retirement accounts

Click here to read Scott’s highlights on how the advancing tax proposals put corporations and high-income individuals in the spotlight.

As you’re planning and talking to your advisor, don’t forget one of the best ways to mitigate tax liability and super-size your giving: giving through the Community Foundation. From donor-advised funds to family foundations, legacy giving and more, we can help you achieve your philanthropic goals.

Over the years, Scott has referred many clients to the Community Foundation as he’s worked to help them achieve their giving goals, while utilizing tax deferral strategies such as opening a donor advised fund. One big benefit to giving through us? Scott (and any professional advisor) can continue to manage his clients’ investments through the Community Foundation! 

Advancing tax proposals put corporations and high-income individuals in the spotlight

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