News from SVA Plumb Financial

SVA Plumb Financial’s Neary Featured in Milwaukee Business Journal Article

By SVA | 5/30/2018

SVA Plumb Financial professional Jay Neary, CFP® is featured in an article in the Milwaukee Business Journal’s Guide to Wealth Management. The article, titled “Legislation Creates Closer Look At Charitable Giving”, details the significant changes the 2017 Tax Cuts and Jobs Act created that will impact individuals and subsequently charities going forward.

One of the most substantial changes for individuals was the increase in the standard deduction.  As a consequence, this increase makes it more difficult for households to itemize their deductions, thus potentially eliminating the tax benefits of charitable giving. Two ideas discussed that can help donors are charitable donation lumping and the use of donor-advised funds.

Charitable donation lumping is a way one can control the timing of donations.  By controlling the timing of donations, one can also control the timing of deductions for donations. Donor-advised funds, on the other hand, is a type of philanthropic vehicle which allows one to make an irrevocable contribution and receive the corresponding tax deduction in the year of the donation. The contribution is placed in the donor-advised fund and can then be invested and grow tax-free. At any point afterward, one can grant funds from the account to the qualified charities of their choosing until the funds are exhausted.


About Jay Neary

Jay is a Financial Consultant with SVA Plumb Wealth Management, LLC. He focuses on financial planning and helping clients realize their financial goals. In an increasingly complex financial world, simplifying personal finances is one of Jay’s passions.  He is a part of a diverse team of wealth management professionals who help individuals and families accumulate, preserve and transfer their wealth.

About SVA Plumb Financial

At SVA Plumb Financial, we believe quality service is the key to maintaining long-term relationships. Our clients enjoy personal access to the investment and trust advisory professionals who oversee their portfolios. Through this close relationship, we recognize the direct responsibility we have for our clients’ assets and wealth planning.

We work closely with our clients to assist them in defining their investment goals and objectives, taking into account not only their goals and obligations, but also their desires to address the needs of future generations.