3 Reasons to Set Up a Donor-Advised Fund to Maximize Your Charitable Tax Deductions

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

Whoopi Goldberg Warns Trump: ‘You’re Not Gonna Run If You’re in Jail’

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 UGMA/UTMA Accounts Are the Perfect Holiday Gift

If you have a special child in your life, you may be wondering what to put under the tree this year. One long-lasting and truly meaningful way to show the child in your life that you care is by taking a few minutes to set up a UGMA/UTMA account and give them a leg up in life.

The earlier you open a UGMA or UTMA account for a child, the longer your initial gift has to grow, thanks to the magic of compound interest. For example, investing just $5 a day from birth at an 8% return could make that child a millionaire by the age of 50. By setting up a UGMA/UTMA account, you’re really giving your beneficiary a present that grows all year round. Now, that’s a gift they’re sure to remember!

What is a UGMA/UTMA account?

UGMA is an abbreviation for the Uniform Gifts to Minors … Read the rest

Stephen Curry and Under Armour Launch The Curry Brand

Under Armour has announced that it is launching a signature shoe brand for three-time NBA champion Stephen Curry called The Curry Brand.

The Curry Brand launched on Dec. 1. A percentage of Curry Brand’s annual revenue is intended to be invested in under-resourced communities. By the year 2025, Under Armour’s Curry Brand plans to create, at minimum, 20 safe places to play and support 125 programs that impact young athletes. It also aims to deliver opportunities to train more than 15,000 coaches — making an overall impact on more than 100,000 youth.

“We have a shared goal of unlocking play for kids, so that became a natural place for us to focus,” Curry said of the partnership with Under Armour in a written statement. “I grew up doing a lot of things to give back to the community with my family — and continue that now — while Under Armour … Read the rest

Holiday Spending Statistics for 2020

Rather than shopping in department stores and visiting Santa at the mall, this year’s holiday season is going to look a little different. You’ll likely be spending more time with your closest loved ones and exchanging gifts you ordered online. With the events of 2020, many have experienced unexpected changes in employment, income, and even health so the holiday budget is top of mind. To figure out what gifting budgets may look like this year, we ran our own holiday survey and collected 26 holiday spending statistics.

In 2019, roughly 729 billion dollars was spent during the holidays. This topped the charts, making it the biggest holiday season. This number may come as no surprise when you account for everyone on your shopping list. From your coworkers to family, holiday budgets can stretch thin to accommodate for everyone.

Wondering what others are spending on holiday gifts? Keep reading for our … Read the rest

Kamala Harris Reaches Out to Nurse And Frontline Workers On Thanksgiving

Vice President-Elect Kamala Harris has been extremely busy lately and she hasn’t even been sworn into office yet.

Last week, the California senator called a Bay Area teenager named Tyler Gordon after he posted a mural he painted and it went viral on Twitter. Over the weekend, Harris continued to reach out to a nurse in Chicago who is on the frontlines of the fight against the coronavirus. After speaking with the nurse, Harris shared the conversation on her Instagram account.

Earlier today @DouglasEmhoff and I called Talisa, a registered nurse in Chicago, and a few of our nation’s frontline workers to thank them for everything they have done in the fight against COVID-19. We won’t be able to get through this without them.

 

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A post shared by Kamala Harris (@kamalaharris)

Bonnie Castillo, RN, who is Executive Director of National Read the rest

How Ed Hennings Went From 20 Years In Prison to Sought After Business Man and Motivational Speaker

First degree intentional homicide is a Class A felony which results in a sentence of life imprisonment if convicted. This is the charge Edward L. Hennings originally received twenty-four years ago. Unlike most charged with such a serious offence, however, Hennings has not only found freedom outside of a cell, he also escaped the lifestyle that got him there and is now a respected business man, author and sought after motivational speaker. His story is one for the books, and the 180 mindset shift Ed Hennings made is one all should lean in and take note of. Every story worth reading, however, has a rising action that leads to conflict and Hennings’ began in his teens.

At the age of 19 Hennings started selling drugs, sharing that while he was doing pretty good in school, he got impatient. The thought of having to wait four more years before he could … Read the rest

Gratitude in A Difficult Year

This year took so many twists and turns we haven’t been able to keep count– often leaving us in complete overwhelm with a whirlwind of thoughts and emotions. Grief, anxiety, and sheer disappointment are just a handful that comes to mind when we reflect on the endless amount of curveballs life has thrown over the past year. Tragedy and loss plagued the entire world, leaving us speechless day after day. Despite the darkness that loomed for what seems like an eternity there has been an outpour of positives that we can’t forget to remember. As 2020 quickly comes to a close, let’s take the time to decompress and reflect on the happier moments we were lucky enough to live through and witness. Even though Thanksgiving may look less traditional than previous years, we still can readily name some things that shift our hearts to a place of gratitude.

Family first

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Faizon Love Sues Universal For Racial Discrimination For Omitting Black Couple From ‘Couples Retreat’ Publicity Posters

The seeds of racism were planted in Hollywood many years ago, but it still bears the fruit of it today. According to The Hollywood Reporter, actor Faizon Love has filed a lawsuit against Universal for leaving him and his “wife” co-star Kali Hawk off posters promoting the 2009 movie, “Couples Retreat.” Love and Hawk was, coincidentally, the only couple that wasn’t white.

According to the lawsuit Love filed, he stated he was “aghast” when finding out that Universal included him and Hawk in the domestic movie poster but, took the couple off for the international version.

“Universal Studios had no problem featuring Black actors in the comedic film,” it says in the complaint. “But when it came to publicizing the film to international audiences, Universal Studios chose to segregate the motion picture’s White and Black actors… Rather than enjoy maximum visibility with the film’s release, Mr. Love was demoted … Read the rest

Options for Teacher Student Loan Forgiveness

Loan forgiveness is a trade-off. It’s about incentivizing graduates to work in low paying or otherwise undesirable positions in exchange for erasing or significantly reducing their student loan balance. Without these programs, important community institutions would be severely understaffed.

If you’re a teacher or education student reading this, those criteria probably sound familiar.

Many school districts struggle to fully staff their schools, especially when it comes to certain positions. Loan forgiveness programs are one of the best ways for them to attract job candidates and retain them for long enough to make an impact.

Teachers have several options when it comes to loan forgiveness. Here’s what you should know about each one.

Teacher Loan Forgiveness

The Teacher Loan Forgiveness Program is the only federal loan forgiveness program specifically designed for teachers. Math or science teachers who teach in secondary schools or special education teachers can have up to $17,500 worth … Read the rest