News
Smart Tax Planning
We are pleased to share with you a new article, Smart Tax Planning: Pairing a Roth IRA Conversion with a Donor Advised Fund. This paper was prepared by Farhad Aghdami, an attorney with Williams Mullen and a board member and officer of The Community Foundation.
Highlights to consider:
- The uncertainty associated with future income tax rates may lead some individuals to consider pairing a Roth IRA conversion with a charitable gift.
- This year, you have the unique opportunity to mitigate the payment of income tax liability from a Roth IRA conversion by creating a donor-advised fund in 2010.
- A donor advised fund at The Community Foundation allows you an immediate income tax deduction to offset the recognition of ordinary income upon conversion, while permitting you to make grants from the donor advised fund to charities in future years.
If you would like to discuss charitable gifting strategies, please contact Bobby Thalhimer or Teri Lovelace at (804) 330-7400.