When Marcus Kawaja, Class of 2025, began his college search, parents Wendy Holcombe and Carl Kawaja of San Francisco thought WashU might be a good fit. “It seemed like a great university, and it had a really good feel,” says Wendy. “I had a dear friend from college whose mom worked at WashU. I heard […]
What is a CGA? A charitable gift annuity, or CGA, can be a mutually beneficial gift arrangement for both the donor and charitable organization. The most common life income gift, a CGA is funded with a gift of cash or marketable securities, and provides a fixed payment rate for up to two annuitants—the donor, donor’s […]
What are the potential tax benefits of donating crypto? Donating crypto directly to charity can save you money on two types of taxes: Avoid paying any capital gains tax on your crypto gains. Receive a federal income tax deduction for the full value of your crypto (state and local income tax deductions may also be […]
Are you looking for a way to maximize your charitable giving this year? The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides several opportunities to maximize your gifts and minimize taxes, including deducting up to 100 percent of your adjusted gross income (AGI) for cash gifts made during the 2021 tax year. The charitable […]
As digital assets become more prevalent in our lives, it is important to include provisions to facilitate access to accounts and passwords as part of the estate planning process. Digital property, like other property can be passed to others through an estate plan. While laws pertaining to digital assets continue to evolve, current restrictions to […]
As the Biden administration sets their agenda, many questions regarding changes to the tax laws remain unanswered. While President Biden’s proposed tax plan includes changes that may impact future tax rates and deductions, as well as potential new tax credits, to date, specific legislation has not been put forward. The following chart outlines some of the […]
The Consolidated Appropriations Act, 2021 has extended the benefits for charitable contributions made available through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion federal relief package signed into law on March 27, 2020. The following benefits are extended for the 2021 tax year: Expansion of the universal charitable deduction for cash gifts – […]
Did you know that you may use a life insurance policy you no longer need to support WashU? Over the years, you may have purchased life insurance to protect family members or a key employee, or as a vehicle to provide liquidity for estate taxes. As life evolves and laws change, it is a good […]
Spring has arrived, and with it a renewed sense of energy and optimism. After the many challenges we all faced this past year, it’s a welcome transition. As I reflect on my first year at WashU, I am grateful for the opportunity to work with so many alumni, colleagues and members of the WashU community. […]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion federal relief package signed into law on March 27, 2020 is designed to help individuals, businesses, and nonprofit organizations facing economic hardship during the coronavirus (COVID-19) pandemic. The CARES Act recognizes the important role that nonprofit organizations like Washington University are playing in […]