2021 Tax Reform Will Be Far-Reaching. Will Your Nonprofit Benefit?

$45.00

GET THE RECORDING.

We are looking at the most sweeping changes to personal taxes since 1986, and perhaps the greatest shakeup for estate and retirement planning in many generations.

Description

The changes coming to income, capital gains, gift and estate taxes will be substantial and far-reaching. With two tax-related bills already proposed in the Senate, and the President’s promised tax increases gaining momentum, we are looking at the most sweeping changes to personal taxes since 1986, and perhaps the greatest shakeup for estate and retirement planning in many generations. This means many of your donors will need to re-examine their estate plans, and others will need to take estate planning much more seriously. The following are the most significant changes likely to happen:
  • Estate tax lifetime exemption, currently $11.7 million per person, dropping to $3.5 million per person (2009 level)
  • Gift tax lifetime exemption will be just $1 million per person (2001 level)
  • Earners of $400,000 or more likely to see their tax bracket jump to 39.6%
  • Capital gains and dividend rate for earners of $1 million or more jumping to 43.4% from 23.8%
  • Step-up in basis at death likely changing.
In the Senate, only 51 votes are needed to pass budget reconciliation legislation. Unless there is opposition from House Democrats, most of these changes will very likely happen. As a result of these changes, current estate plans for higher net wealth individuals — many of whom are your donors — need to be re-examined and adjusted. Additionally, many will re-evaluate their investment strategies and charitable intent.
Don’t miss out on this opportunity to reach your supporters with friendly, much-needed advice about estate planning and planned giving. By getting in front of the most sweeping tax changes in decades, you’ll be doing your supporters — and your organization — a valuable favor.

Jonathon Gudema, Esq.

Presenter

WEBINAR

Wednesday, May 19

2 PM (EST)

Duration 1 Hour

Many of your donors will need to re-examine their estate plans, and others will need to take estate planning much more seriously. And many will re-evaluate their investment strategies and charitable intent.

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