Mike Riedmiller photo
Riedmiller Wealth Management logo
Forbes logo

Mike Riedmiller

Fiduciary Financial Advisor

Forbes Brand Voice

Best-Selling Author

 

 

Helping happy clients enjoy more fun and less stress!

 

 

Riedmiller Wealth Management

 

14301 FNB Parkway, Suite 100, Omaha, NE 68154

 

233 S. 13th Street, Suite 1100, Lincoln, NE 68508

 

Phone: 402-904-7575

 

Email: mike@riedmillerwealth.com

 

Online: RiedmillerWealth.com

November/December 2021

Think About Charitable Giving at Year's End

Think About Charitable Giving at Years End

Supporting a cause or charitable organization that’s important to you may be high on your year-end to-do list. Before the ball drops and you bring out the hats and noisemakers, take time to identify charities that you want to receive your donations.


Choosing a Charity
Whether you want to support multiple organizations or causes or only one, your first step should be to visit the charity’s website. Form 990, which tax-exempt organizations are required to file annually with the IRS, offers an overview of the organization’s activities and governance and provides detailed financial information. It gives you a helpful snapshot of the charity’s mission and finances.

An Unbiased View
Sites such as Charity Navigator and GuideStar can help you evaluate a charity by showing you how much of your contribution is used to fund actual programs and how much goes toward administrative costs. Low administrative costs mean more money is available for the charity’s mission. This information can be helpful when you’re deciding between charities that support similar causes.


Deduct Without Itemizing
The CARES Act allows taxpayers who take the standard deduction to claim a $300 charitable donation deduction on their 2021 returns. For 2021, joint filers can deduct $600. You’ll need to prove your donations, so make them with a credit card or save your receipts if you donate cash or by check.


IRA Contributions
If you’re age 70½ or older, you can donate to a charity by taking a qualified charitable distribution (QCD) of up to $100,000 from your traditional individual retirement account. You won’t pay tax on the distribution as long as it goes directly from your IRA to the charity. IRA owners who are age 72 or older can use the QCD to fulfill their RMD requirement. Typically, a QCD is not included in adjusted gross income. However, other rules may apply.

Donations charged to a credit card before midnight on December 31 will qualify for the tax deduction, even though you won’t pay the bill until next year. Consult your tax and financial professionals for guidance with year-end charitable giving.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Investment advisory services offered through the Impact Partnership Wealth, LLC ("IPW"), a Registered Investment Advisor firm. Registration is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability.
Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.
Past performance may not be indicative of future results. Impact Partnership Wealth, LLC, its affiliates, and its investment adviser representatives do not provide legal, tax or accounting advice. You should consult your legal and/or tax professionals before making any financial decisions. Please be advised that you may conduct securities transactions only be speaking directly with your Investment Advisor Representative either by phone or in person.
No information or material presented on this website is intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Impact Partnership Wealth offers a broad range of investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary which can also be accessed here on this website.
Insurance and annuities offered through Michael Riedmiller, NE license #17294119.
Please be advised that the securities advice offered, securities transactions conducted and assets under management services rendered by Impact Partnership Wealth, LLC are not:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
Are Not Deposits
Are Not Insured by Any Federal Government Agency
Are Not a Condition to Any Banking Service or Activity

Form CRS - https://impactpartnershipwealth.com/wp-content/uploads/2021/06/Impact-Form-CRS.pdf
Privacy Notice - https://impactpartnershipwealth.com/wp-content/uploads/2021/06/IPW-Privacy-Policy.pdf
Form 2A - https://impactpartnershipwealth.com/wp-content/uploads/2021/07/ADV-Part-2A.pdf

The Road To Success book, Amazon 2016 best-seller list. Performance 360 book, Amazon 2018 best-seller list. National Academy of Best-Selling Authors (NABSA) is a membership organization owned by Dicks + Nanton Celebrity Branding Agency. Qualifying criteria for membership includes an application process and proof of appearance on one Best-Seller category on Barnes&Noble.com or Amazon.com. NABSA membership requirements include the payment of annual dues. NABSA logos and/or trademarks are property of their respective owners and no endorsement of Mike Riedmiller or Riedmiller Wealth Management is stated or implied. The Quilly Award and attendance of the ThoughtLeader Summit and Golden Gala awards are additional options within NABSA membership. Requirements for receiving a Quilly Award and attending the ThoughtLeader Summit and Golden Gala awards include the payment of additional dues. For the detailed requirements of NABSA, please visit: http://www.bestsellersacademy.org/about-the-national-academy-of-best-selling-authors

Riedmiller Wealth Management and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.