This “Prosperity Shared” guiding principle is how we treat our clients, our community, our planet and our team members. Our founder and CEO Paul Ewing leads by example as he has created 4 different 501(c)(3) charities over the years.
One of those charities is Caring Cetera to which Cetera and its advisors donate funds to support the communities in which they live, work and play. Since this program began over $1.2 million has been raised and distributed through disaster relief, scholarships and employee led initiatives.
Caring Cetera was a 2023 “Wealthies” finalist at the WealthManagement.Com Industry Awards for Corporate Social Responsibility. Paul represented the Cetera community at the September 7th banquet held in New York City. Although Paul looks as if he wears black tie every day, we all know better. Either way, he and Julie look terrific all dressed up as they celebrate a terrific cause!
Our Prosperity team embraces opportunities to be generous with their time and money to help causes closest to their hearts. So do many of our clients who are generous givers, and it is a joy to help them plan their giving strategies.
The WealthManagement.com Industry Awards program recognizes outstanding organizations and individuals that support financial advisor success. Listing in this publication and/or award is not a guarantee of future investment success. This recognition should not be construed as an endorsement of the advisor by any client. No compensation was provided directly or indirectly by the recipient for participation or in connection with obtaining or using the third-party rating or award.
If you are interested in charitable giving, there are many planning strategies that your advisor can help you consider and execute upon – donations of appreciated stock, cash gifts, estate bequests, Qualified Charitable Distributions, donor advised funds, and more. We even have an advisor with the Chartered Advisor in Philanthropy designation who can help with complex strategies. Reach out to learn more about supporting your favorite charity with your financial plan!
FAFSA OPENS - 10/1
If your children are high school seniors, the Free Application for Federal Student Aid window opens on October 1st. Apply early because some grants, scholarships and loans are limited.
SIMPLE IRA - 10/1
If you wish to create a SIMPLE IRA for your small business, the account must be opened by October 1st.
TAX DEADLINE - 10/16
If you filed for an extension in April, the deadline to file your return is October 16th.
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Are you maximizing your charitable deductions?
Due to the increased standard deduction, many taxpayers are unable to deduct their charitable contributions. However, if you are age 70 ½ or older, you can utilize Qualified Charitable Distributions (QCDs) to reduce your taxable income. How does this work? You make a charitable donation directly from your IRA account, and the donation amount is excluded from your income. For example, if you have $60,000 of IRA distributions, but $20,000 of that was QCDs, you then only have $40,000 of taxable income. This is a great tool to ensure your charitable contributions will provide a tax benefit. Be sure to discuss this with your financial advisor. Of note, your year-end IRA statement won’t indicate if you made any QCDs, so you’ll need to keep track yourself. Of course, if you have Prosperity Tax Center preparing your taxes, we have that information available and do the work for you!
Daniel Delaney, CPA® ... 317-844-5100