Sara Barba highlights proposed provisions for fiscal year 2024 that donors should be aware of. April 20, 2023 In early March, President Biden released a budget proposal for fiscal year 2024, the Budget of the U.S. Government, which outlines the administration’s spending and tax priorities. In the proposal and its supplementary materials, including the General Explanations ofContinue reading “Trusts & Estates: President Biden’s Budget Proposal and Its Impact on Philanthropy”
Author Archives: Sara Barba
Trusts & Estates: Dedicating More of the Great Wealth Transfer to Philanthropy
By Sandra Swirski, founder of Integer, based in Washington, D.C., and Tony Macklin, founder of Tony Macklin Consulting, based in Pittsburgh The wealth transfer to younger generations currently underway—and projected to continue for the next 20 years or so—is estimated to top $84.4 trillion. (1) This is generally described as the “Great Wealth Transfer.” Let’sContinue reading “Trusts & Estates: Dedicating More of the Great Wealth Transfer to Philanthropy”
Wealth Management: Wealth Tax Proposals on Deck
While Republicans securing control of the House last November squashed Democrats’ hopes of further reforming the Tax Code during President Joe Biden’s first term, it hasn’t stopped them from proposing tax hikes. And although major tax legislation isn’t expected to advance over the next two years due to a divided government, the work that policymakersContinue reading “Wealth Management: Wealth Tax Proposals on Deck”
Treasury Department to Issue Tax Guidance on NFTs
Last week, the Treasury Department issued a notice that it intends to issue guidance clarifying the tax treatment for Non-Fungible Tokens (NFTs), which are typically used to convey ownership of digital or real-world items using blockchain technology. The notice signals that many NFTs will likely be treated as “collectibles” for tax purposes, subjecting gains fromContinue reading “Treasury Department to Issue Tax Guidance on NFTs”
Integer Founder: 2022 Reflections and What’s Ahead
As I reflect on the past year and the next one, I keep coming back to two themes that I believe could reshape our economic future for years to come. If properly addressed, the first could lead to positive, transformational change in most communities around the country. While the first theme represents a golden opportunity,Continue reading “Integer Founder: 2022 Reflections and What’s Ahead”
Analysis: Divided Government, Bankruptcies Extend the Timeline for Digital Asset Legislation
The midterm elections and turmoil in the crypto sector may have significantly altered the outlook for crypto legislation in the 118th Congress, slowing down any policymaking members of Congress hoped to achieve in the short term. Republicans aimed to flip the Senate and gain a substantial House majority, which could have allowed GOP-chaired committees toContinue reading “Analysis: Divided Government, Bankruptcies Extend the Timeline for Digital Asset Legislation”
The Year-End Outlook for Renewing An Important Charitable Giving Incentive
Last week, the Charitable Giving Coalition hosted a two-day fly-in to urge lawmakers to renew and expand the universal charitable deduction for non-itemizers, which expired at the end of 2021. The Grow Giving Now Fly-In welcomed more than 50 charitable leaders to Washington, DC, to meet with lawmakers and their staff, expressing support for theContinue reading “The Year-End Outlook for Renewing An Important Charitable Giving Incentive “
New Crypto Broker Rules Could Inadvertently Impact Charitable Giving
The Treasury Department recently signaled it intends to release a proposed rule this year to recalibrate legislation set to take effect on January 1, 2023 that would greatly increase the number of people considered brokers for tax reporting purposes, potentially adding onerous tracking requirements to a wide swath of the digital asset sector. Without potentialContinue reading “New Crypto Broker Rules Could Inadvertently Impact Charitable Giving”
Webinar Recap: Midterm Preview and What It Means for Washington and the Charitable Sector
On September 28th, Grant Berkshire, Senior Government Relations Associate at Integer, moderated a webinar on the upcoming midterm election that delved into its potential impact on the charitable sector. Panelists included Integer’s Sara Barba and Steve Taylor, and Stacey Rolland with Forbes Tate Partners. The first major takeaway of the webinar: divided government looks veryContinue reading “Webinar Recap: Midterm Preview and What It Means for Washington and the Charitable Sector”
Polling Data: Universal Charitable Deduction, Inflation Fears, and Reduction in Giving
Last month, Independent Sector released polling data on a number of topics related to charitable giving and public policy. Some results are encouraging, while others are quite concerning. Let’s start with the bad news. Respondents indicated significant concerns about the economy, with 96 percent “somewhat or very concerned” about inflation or experiencing economic stress inContinue reading “Polling Data: Universal Charitable Deduction, Inflation Fears, and Reduction in Giving”