Please register below if you plan to attend. *PLEASE NOTE: This event will now take place only via Zoom.

As ASBI members (and to paraphrase Ben Franklin), we face three certainties in life: death, taxes, and financially supporting the shul. In this workshop we will explore methods to tilt the balance between the second and third items on that list. The reality is, many taxpayers don’t get any meaningful tax savings from charitable giving, including many who did for many years, until the “Tax Cuts and Jobs Act” went into effect in 2018.

Fortunately, there still exist powerful ways to give more to causes you support (such as ASBI) or simply reduce your taxes by understanding the tools and applying them intelligently to your situation.

While we will cover some strategies that can benefit people of all ages, others are most applicable to individuals who are approaching or already past age 70. The workshop is also most helpful for those who earn enough income to be paying what they feel is a meaningful amount of tax—which is, of course, a very personal determination and all are welcome to attend.

In addition to strategies that can reduce taxes in the near-term, we will cover some techniques to maximize tax savings from including charities (such as ASBI) in your estate planning. In this area, the savings can be truly enormous and apply to both income and estate taxes. On the latter subject, it’s important to note that Illinois assesses its own estate tax separate from the federal government’s and has a much lower exemption ($4 million, vs. $13-14 million at the federal level).

Josh is a financial planner with The Next Level Planning Group. His specialty is bringing both art and science to the task of helping people match their expected future expenses with highly probable cash flows from their assets. The “art” is reflected in the creative and customized descriptions of clients’ values, goals, and vision of the future that he weaves into their financial plans. The “science” comes alive through an integrative understanding of financial markets, estate planning, and tax reduction strategies, and the placement of the client’s specific situation and goals within that context.