Where we share our vision and ideas about our community and invite you to share yours.
By Steve Shook, CPA
(UPDATED: December 2, 2016)
Steve Shook, a principal with ProActive Finance Group, works with individuals, families, closely-held businesses and private equity groups. Here he shares his 6 tips for making the most of your year-end giving.
Donate IRA distributions to charity. Individuals over age 70-1/2 are permitted to exclude from income up to $100,000 of their required minimum distribution (RMD) where the RMD is paid directly to a qualified charity. For married individuals filing a joint return, the limit is $100,000 per individual IRA owner. Most public charity recipients are considered qualified charities, while private foundations and donor advised funds are not. Please check with your tax advisor regarding this useful tax saving provision.
During 2011-2013, Steve Shook chaired the Board of Governors of Austin Community Foundation, serving as a board member for 7 years. Shook has a donor advised fund at Austin Community Foundation.
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