Planned Giving

Your act of generosity, our longevity

With planned giving, you can provide long-lasting support for Boys & Girls Clubs of South Puget Sound while enjoying financial benefits for yourself.

Text Resize
Print
Email
Subsribe to RSS Feed

Thursday December 13, 2018

Washington News

Washington Hotline

California Wildfire Disaster Relief

In CA-2018-13, the IRS granted tax relief to three California counties devastated by wildfires. Residents of Butte, Los Angeles and Ventura counties have until April 30, 2019 to file most tax returns. Between November 8 and November 16, 2018, these three counties experienced major wildfires.

The Camp Fire in Butte County was devastating. Over 142,000 acres and 11,862 buildings burned. There are 63 confirmed fatalities and 631 missing people. Some of the missing individuals may be in refugee camps, but many are feared lost.

The entire town of Paradise was destroyed by the fire. At publication time, the Camp Fire was 45% contained and still threatens other northern California communities.

At a joint news conference, U.S. Interior Secretary Ryan Zinke and California Governor Jerry Brown agreed that both federal and state efforts were needed to protect residents. Zinke stated, "It is unsustainable to have this happen year after year or have a season like this where you have hundred-thousand-acre fires becoming routine."

Governor Brown explained the efforts to coordinate the federal and state first responders and other fire protection personnel. Brown agreed that there should be improvements in forest management. He stated, "We have got to get on the side of nature. We cannot just fight it."

The Woolsey Fire in southern California burned 98,362 acres in Los Angeles County and Ventura County. It destroyed 616 buildings and there are three confirmed fatalities. At publication time, it was 69% contained.

The IRS tax relief permits residents of Butte, Ventura and Los Angeles counties with filing dates from November 8, 2018 until April 30, 2019 to file on April 30, 2019. Nonprofits with a tax extension to November 15, 2018 are included in this relief.

Payroll deposits due between November 8, 2018 and November 23, 2018 will be timely if made by November 23, 2018.

Casualty losses in federally-declared disaster areas may be reported in the year of the fire or the prior year. See IRS Pub. 547 for more information.

Published November 16, 2018
Print
Email
Subsribe to RSS Feed

Previous Articles

Increased Child Tax Credit for 2018

IRA and 401(k) Contributions in 2019

Your Social Security and Medicare Value

Small Business TCJA Tax Changes

Social Security Benefits Increase by 2.8% in 2019

scriptsknown

Gift Options

Donor Stories

Learn how others have made an impact through their acts of giving to our organization and others. Explore the many benefits of charitable gift planning.

more

How to Give

Learn how to make a gift that provides tax benefits and even life income.

more

What to Give

Find out what type of assets make the best planned gifts. Learn about gifts of cash, securities and property.

more

Planned Gifts Calculator

View a presentation that shows the benefits of a planned gift based on your property and goals.

more

News

Personal Planner

Bequests to Your Favorite Charity Bequests to charity are the most popular type of planned gift. A donor may retain assets during life and then leave a...

more

Finance News

Hewlett-Packard Continues Resurgence Treasuries Rise on Mixed Economic Data Interest Rates Stay Low

Savvy Living

Personal Tech Products Designed Specifically for Seniors. Can you recommend any tablets, smartphones or computers that are specifically designed for seniors? I would like to buy...

more

Washington News

IRS End-of-Year Tax Tips

In IR-2014-110, the IRS offered tax tips for end-of-year charitable giving. 1. Household or Clothing Gifts ? These items must be in good used condition or better..

more

For Advisor

Advisor Resources

We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends.

more

Deduction Calculator

The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format

more

Private Letter Ruling

Estate Distributes to Foundation without Self-Dealing

Decedent formed Company and subsequently formed Irrevocable Trust...

more

Washington News

IRS End-of-Year Tax Tips

In IR-2014-110, the IRS offered tax tips for end-of-year charitable giving. 1. Household or Clothing Gifts ? These items must be in good used condition or better.

more

GiftLaw Pro

Charitable Tax Reference

GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...

more

Case of the Week

Living on the Edge, Part 4

Rhea Jones, 75, lives in a beautiful coastal town in northern California. Rhea?s home occupies three...

more

Article of the Month

Gifts of Pass-Through Business Interests

A charitable gift of a business interest can make a wonderful gift to charity. At the same time,...

more