IRS Announces Higher 2019 Estate And Gift Tax Limits

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NEW YORK, NY -- The Internal Revenue Service announced today the official estate and gift tax limits for 2019: The estate and gift tax exemption is $11.4 million per individual, up from $11.18 million in 2018. That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax, while a married couple will be able to shield $22.8 million. The annual gift exclusion amount remains the same at $15,000. For the ultra rich, these numbers represent planning opportunities. For everybody else, they serve as a reminder: Even if you don’t have a taxable estate, you still need an estate plan.

90% of the Wealthy Give to Charity and 48% Volunteer, Study Says

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WASHINGTON, DC -- The biennial 2018 U.S. Trust Study of High Net Worth Philanthropy found that 90 percent of affluent households gave to charity in 2017, and 48 percent of them volunteered at nonprofits. In addition, annual giving among the wealthy in 2017 rose by 15 percent compared with two years earlier.

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The Black Giving Circle Fund Announces Successful Fundraising Campaign

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HARTFORD, CT -- The generous members and supporters of the Black Giving Circle at the Hartford Foundation for Public Giving have successfully completed a $25,000 fundraising campaign making the Fund eligible to receive a $25,000, dollar-for-dollar matching contribution to support the needs of Greater Hartford’s Black community.

The Growth in Total Household Giving Is Camouflaging a Decline in Giving by Small and Medium Donors: What Can We Do about It?

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BOSTON, MA -- Research on giving in the United States has now produced definitive empirical evidence to show a decline in the participation and amounts donated by “small” and “medium” (actually, median) donors and an increasing reliance on “large” donors. That lead sentence should make every reader stop and envision the future of philanthropy in our democracy. Nonprfit Quarterly's Patrick Rooney writes in support of a universal charitable deduction.