Getting The Holiday Spirit: How You Can Save Taxes & Support The American Dream

There’s nothing more American than changing your life through the pursuit of higher education.

That’s why South Florida’s  Broward College sponsors the American Dream Scholarship fund.

It helps needy students cross the finish line to obtain their degree. The program has rigorous requirements, and benefits working, local students who are pursuing a degree in a high demand field and maintain a strong GPA. They have already proven they can do the work; the scholarship just helps them go that last mile.

If you’re not familiar with Broward College, you should know that in 2017, it was named one of the top 3 community colleges in the nation by the Aspen Institute for Community College Excellence.

We’re highlighting this scholarship fund for the holiday season to show you how smart giving can help others and also save you on your taxes.

One of our clients just gave a very generous gift to the American Dream fund by making a donation directly from her IRA account in what’s called a Qualified Charitable Distribution (QCD). Instead of reporting the Required Minimum Distribution withdrawal from her IRA as taxable income, and paying a higher tax bill, she gifted it directly to the American Dream fund.

The Takeaway: If you want to learn more about smart gifting strategies, just ask us. We can show you how to support the causes that mean most to you, in a way that can help reduce your tax bill.

Broward College believes that anyone who is determined to change his or her life through the pursuit of higher education should be afforded the opportunity. To learn more about this unique program, please visit www.bcdream.org.

 

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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