The Individual Retirement Account, or IRA, has become a staple of Americans saving for retirement. First established in 1974, the IRA gained in popularity through the 1980s and 90s and today, we find three basic types: the Traditional IRA, the Rollover IRA, and the Roth IRA. Traditional IRAs allow for tax-deductible contributions and tax-deferred growth. The Rollover IRA functions in the same manner as a Traditional IRA but initially is...
Read More
Our vision at Foster Group is to influence thousands of individuals, families, and organizations with wise financial counsel, while encouraging the pursuit of meaningful living and generous giving. Recently, my family moved back to Iowa after ten years in Paramount and Long Beach, CA. I’m guessing most of you are familiar with Long Beach, but have never heard of Paramount. I bet, though, you have heard of Paramount’s neighbor city...
Read More
Foster Group has a vision to “… encourage the pursuit of meaningful living and generous giving.” What does that mean to you? It’s a question worth pondering, and one with a wide variety of right answers. If your answer has anything to do with leaving a legacy in your community, I have an opportunity for you! The Endow Iowa Tax Credit Program was created by the Iowa legislature in 2003...
Read More
...
Read More
We are continually inspired by your desire to be generous, and it is our privilege to help you find ways to realize your charitable objectives. Foster Group can help by simplifying the mechanics of giving and reducing the tax consequences of your gift, allowing you to maximize your charitable contributions. Giving appreciated shares of securities (stock, mutual funds, etc.) could be of benefit to you, especially if you happen to be...
Read More
Over the years, Foster Group has done a lot of writing about using appreciated shares to enhance the tax benefits of your charitable giving. But this time I’m saying, “Don’t do it!” Okay, actually, I’m saying, “There may be a better way.” On December 18, 2015, President Obama signed into law the PATH act, which made permanent a key charitable giving tax incentive. This can be an excellent tool for...
Read More
As 2015 starts to wind down, many investors are thinking about how to positively impact causes and organizations about which they are passionate. A further benefit of this endeavor is the opportunity to lessen one’s annual tax burden. A donor advised fund (DAF) is a fantastic tool for gifting and tax mitigation that is worth considering. DAFs are philanthropic vehicles operated by public charities which are relatively uncomplicated, widely available,...
Read More
If anyone tells you they know where the market is headed, you know to run the other way as fast as you can. If anyone would have told you they predicted that the Iowa Hawkeyes would be 7-0 to start the season, you also would have laughed and found a way to escape. Well, the Hawkeyes ARE running wild on their opponents right now and the markets are having another...
Read More
Want to leave a legacy gift and get a pretty significant tax benefit? If so, you should check out the Endow Iowa program. This is how it works:
One of the roles I cherish in my work at Foster Group is being part of our Charitable Giving Team. Each year, our group meets regularly to give away money and promote generosity. What fun! Last fall, the team challenged each Foster Group employee to give away a $50 bill … then share their story. And the stories came in – a $50 tip to an unsuspecting waitress at Red Lobster,...
Read More