In this episode, Toby Mathis, Esq, of Anderson Business Advisors welcomes Karim Hanafy, Esq., head of Anderson Business Advisors’ Non-Profit Division. Karim and Toby will go over ten benefits of either donating to, or setting up your own 501(c)(3). From donor-advised funds to public vs. private foundations, Toby and Karim explain all the pros and cons.

Karim is a nonprofit attorney with over 20 years of experience forming nonprofit organizations, obtaining 501(c)(3) tax-exempt status, advising with ongoing compliance, and assisting with annual tax reporting. Karim previously worked in the Tax Exempt Division at the IRS, and he uses his IRS experience to advise nonprofit organizations on the application process and ongoing compliance.

Highlights/Topics:

• End-of-year tax reductions by donating to charities
• Setting up your own 501(c)(3) can be your legacy
• Giving through a donor-advised fund with Vanguard, Schwab, Fidelity, etc.
• Tax benefits of donating to a public charity
• Cash, appreciated assets, public and private foundations
• Tax deductible items, time, travel, and expenses paid on behalf of a non-profit
• GoFundMe donations and tax deductibility
• Managing and controlling the spending of your own 501(c)(3)
• Timing of tax benefits for contributions
• Public charity vs. private foundation
• Contact Anderson Business Advisors or come to our Non-Profit Workshops

Resources:

Karim Hanafy LinkedIn

https://www.linkedin.com/in/karim-hanafy-3561b71b0/

Start Your Non-Profit in 45 Minutes with Anderson Business Advisors

https://andersonadvisors.com/nonprofit-501c3/

Tax and Asset Protection Events

https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=10-ways-to-reap-huge-benefits-from-a%20-501(c)(3)

Toby Mathis on YouTube

https://www.youtube.com/c/tobymathisesq

Anderson Advisors

https://andersonadvisors.com/