THE GIVING CROWD HELPS ALLEVIATE DONOR TAX BURDEN
“As the White House introduces President Biden’s American Families Plan, many businesses and real estate owners are concerned. The president is proposing to increase the tax on capital gains to as much as 43.4%, up from the current level of 23.8%” (*from White House Introduces American Families Plan – Bloomberg – April 22, 2021). Corban University is taking proactive action to provide our donors with a source of expertise that will positively impact their finances, their children and the charities they support. The Giving Crowd (TGC) has an incredible track record of providing an approach to share assets to exceed the dreams and desires of the donor. There are still creative and time-tested options that can help you reduce, defer, or eliminate taxes on the sale of your business or real estate. Recently TGC has worked with several donors contemplating real estate transactions. Here is one example. “Marjorie is a widow in her 70s. She has been a successful small business owner for several decades and now wants to begin simplifying and phasing into retirement mode. One of the steps in her transition is selling a commercial building she owns. But Marjorie has several desires that leave her feeling conflicted. She would like to provide for her one adult child while also continuing to give to her favorite charities despite an anticipated reduction in her retirement income. She also has concerns about capital gains taxes on the sale of the building.” TGC’s work with Marjorie enabled her to eliminate all of the taxes, provide for her daughter generously, and make some of the largest charitable gifts of her lifetime. To watch the full story visit givingcrowd.co/103exchange.