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At Prosperity, we live by a guiding set of principles of how we treat our clients, our community, our planet and our team members. For we firmly believe:
“It is only by helping others prosper, that we prosper ourselves.”
2022 PROSPERITY "SHARES":
Like a muscle, generosity becomes stronger the more it is used. Our advisors help clients as they develop this strength in the following ways:
Defining legacy and lifetime mission statements
Tax savings strategies help reduce the cost of giving and/or increase the impact. Strategies include:
Donor Advised Funds have always been a means to avoid capital gains tax while maintaining control of the ‘who’ and ‘when’ of gifting. In the latest tax laws, it has new meaning as clients can bunch their gifting deduction in the tax year of their choice and take the new higher standard deduction in other tax years.
Charitable Remainder Trusts* have powerful tax savings opportunities as clients monetize their business and real estate holdings with more than enough immediate tax savings to fund the future gift.
Qualified Charitable Retirement Distributions allow clients over 72 to make their tithes and donations from their IRAs, satisfying all or part of their required minimum distributions and still qualifying for the new higher standard deduction.
Legacy Charitable Designations can be accommodated with maximum tax effect.
*Such trusts are used to develop a vehicle for donations to a favorite charity, which also allows for the reduction of income taxes through a charitable deduction and favorable tax treatment at the date of the gift by non-recognition of built-in capital gains. The use of trusts involves a complex web of tax rules and regulations. You should consider the counsel of an experienced estate planning professional before implementing such strategies.
This scholarship aims to close the wealth gap, an issue at the forefront of American society. People in underserved communities have a greater challenge in achieving financial success because of the systemic obstacles they face. Prosperity Advisors has created a scholarship at Kansas State University to help.
We're concerned about the divide between those that have and those that do not, and that this is mostly due to a lack of financial literacy and access to quality financial advice.
With only 23.2% of certified financial planning professionals being female, and less than 4% being Black or Latino, this scholarship addresses the critical need of increasing access and awareness of Financial Planning as a career.
We hope that with this scholarship, we are able to not only begin to close the wealth gap but also provide those in underrepresented populations with financial literacy and quality financial advice.