Day: December 3, 2020

Using donor-advised funds is a more advanced tax strategy that has gotten more popular recently with the introduction of the Tax Cuts and Jobs Act (TCJA) in February 2020. The TCJA nearly doubled the amount of the standard deduction, which makes it less advantageous to itemize deductions such as charitable contributions. For people with a lot of charitable contributions, donor-advised funds are one option to still get a deduction for charitable contributions.

What is a donor-advised fund?

A donor-advised fund (DAF) is a registered 501(c)(3) charitable organization that accepts contributions and generally funds other charitable organizations. While the concept of a donor-advised fund has been around for nearly 100 years, they were typically only used by the ultra-wealthy. And while it is true that donor-advised funds are still not going to be useful for the vast majority of people, recent tax law changes have made their use more prevalent.… Read the rest

The celebrity tattoo artist discusses his career as an artist and influencer.

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On Tuesday morning, the ladies of The View were discussing Fox News’ Sean Hannity’s suggestion to the outgoing president of the United States to pardon himself and his family. As co-host, Whoopi Goldberg points out in the clip, the Attorney General of New York, Letitia James, is ready to pounce on Trump when he is officially out of office.

Trump, who still hasn’t conceded the race to President-elect Joe Biden, has been murmuring that he is setting himself up to run again in the next general election in 2024. But, as Goldberg has stated, “You’re not going to run if you’re in jail.”

“I think it’s very exciting that, you know, he can pardon himself federally. But there are all these people waiting,” said Goldberg. “Letitia James is waiting with her little foot, she is patting that foot, waiting for him to take a step out. Because he keeps saying … Read the rest

Why was Romain Grosjean able to walk away from a horrific crash? It’s a lesson every leader can learn from.

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This information contained in this blog is provided for general information purposes only and should not be construed as an endorsement or advice from GoDaddy or legal or tax advice Always consult an attorney or tax professional regarding your specific legal or tax situation.

Ready to say goodbye to the turbulence and uncertainty of the past year? You’re not alone. Like your fellow solopreneurs, 2020 most likely brought you a whole new set of challenges that tested the resiliency and fortitude that made you want to strike out on your own in the first place. And, if you decided to start your business this year, the challenges were even more extraordinary.

The fact that you’re reading this now is a good sign you weathered the storm, and hearty congratulations are in order. But, of course, you can’t rest on your laurels. You need to prepare for 2021. So, before the … Read the rest