Tax Planning

What Should I do if I Receive an Inheritance?

We are on the eve of the greatest transfer of wealth in history. Most baby boomers are now well into retirement age and are finalizing decisions about their will or estate plan. As a result, the coming years will see an unprecedented amount of money being passed down to younger generations in the form of an inheritance. Families receiving an inheritance need to plan carefully in order to avoid some of the common pitfalls.

Here are some important tips to keep in mind:

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Tax Reform and 3 Ways to Make the Most of it

America changed on December 22nd when President Trump signed a bill enacting the biggest tax overhaul in decades. One highlight of the new law is the near doubling of the standard deduction. Just how much this and the other changes will impact households, our economy, and our federal budget is the topic of much debate. These new tax laws won’t impact 2017 taxes that will get filed by April of this year.

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4 Financial Planning Tips Every Pastor Needs to Know

If you’re a pastor, you know that money matters. The Bible contains more than 2,000 verses about money and about 15% of Jesus’ teaching was on the topic of money and possessions. But how much do you actually know about money?

Whether you went to Bible college, seminary, or are simply self-taught, chances are you spent your time digging into the Scriptures, not finance. Your hermeneutics and homiletics may be fine-tuned, but you probably weren’t taught much more about personal finance than the average American.

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Charitable Giving, Generosity, and... Taxes

Jesus commissions His disciples in Matthew chapter 10 to serve the sick and the marginalized in society. His words to them are of selfless generosity, saying “Freely you have received, now freely give”. In the same way, we should generously and joyfully give out of our abundance to the Church and to organizations that are outreaching to others in need - in fact there are many reasons why we should give willingly.

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