LACF To Host Free Seminar On Financial And Tax Planning For Giving Thursday Oct. 27 At UNM-LA

LACF News:

Is there a local nonprofit you support or would like to give to? Maybe you’re retired and want to donate your IRA distribution to charity? Or you’re mid-career and planning for philanthropic giving in the future?

If your answer is ‘yes’ to any of the above then please join the Los Alamos Community Foundation (LACF) as its hosts local professionals for a presentation and discussion. The session, titled “Planning for Giving – Tips for Current and Future Donors” is part of LACF’s annual Community Philanthropy Series and will be held 6-7:30 p.m., Thursday, Oct. 27 at the UNM-LA Student Center Lecture Hall (Building 2). The event will include valuable information on ways to plan for charitable giving that could save on your taxes and increase the impact of the amount you give.

This LACF session features the following presenters:

Deborah S. Reiss

Deborah S. Reiss, CPA, retired partner with Carr, Riggs & Ingram, LLC will guide us through the alphabet of “RMDs and QCDs from IRAs.” Debbie will share information on Qualified Charitable Distributions (QCDs) from Individual Retirement Accounts (IRAs), the requirements for making these contributions, and how this strategy can result in tax savings. The 2018 Tax Cut and Jobs Act made substantial increases to the standard deduction and substantial changes to itemized deductions. Because of this, taxpayers who are philanthropically minded, have IRAs and are 70½ or older can potentially benefit from making their charitable contributions directly from their IRAs, thereby reducing their adjusted gross income and taking the increased standard deduction.

Shelly Tarantello

Shelly Tarantello, CFP®, Founder, Financial Advisor and Branch Manager of Wiemann Wealth Strategies / Raymond James will discuss “Lesser Understood but Equally Powerful Ways to Give Charitably,” a session geared toward the 55-70 year-old demographic transitioning into retirement. This age group is not yet eligible to give via Qualified Charitable Distribution but may have access to employer-provided life insurance in their peak earning years that can be utilized for legacy giving. They may also be incentivized to give generously in years where they have additional taxable income (from Roth conversions, additional earned income, inheritance, etc.).

Eric Loucks

Eric Loucks, VP Wealth Advisor, Enterprise Bank & Trust will present on “Fulfilling Your Charitable Giving with Donated Securities.” Eric will explain why you should consider donating appreciated securities (e.g., stocks, bonds) directly to a charitable organization in lieu of selling the securities and donating the resulting cash. In addition to covering the potential tax advantages of donating securities, Eric will help demystify the process by walking us through the mechanics of how to process a securities donation.

Regardless of age or investment status, if you are interested in charitable giving you will benefit from this event. Light refreshments will be provided.

The submission of questions for Q&A in advance of the event is encouraged, but note that the presenters cannot provide specific tax or financial advice regarding your unique situation. Please keep any questions general in nature.

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