NoneThroughout the year, in our Women, Money, and Mindset columns , we have tackled some of life’s most pressing financial challenges. Every month, we have delved into a financial issue that touches the lives of our readers, offering, each week, a distinct insight from the differing viewpoints of a Certified Financial Planner, an attorney, a CPA, and an executive business coach. From navigating the financial markets and business strategies to estate planning and tools to cut taxes, our goal has always been to provide clear, practical, actionable advice to take to your trusted professionals so you take the next steps to grow your wealth and increase your financial security. In this final installment of the year, the issue is giving, and the topic this week is Charitable Gift Annuities. It is a strategy that can address multiple financial and tax planning issues while supporting the causes that matter most to you. Unlike giving away cash or assets and not receiving anything in return, with a CGA, if you donate to a 501(c)(3) qualified charity, in return, you receive two powerful benefits. First, you can qualify for an immediate tax deduction for part of the contribution. Second, you receive a dependable, fixed income from the charity for the rest of your life. The minimum contribution is usually only $5,000, so it is an accessible planning tool for most people. Before diving into more specifics, let’s see how a CGA can help with some specific financial and tax planning concerns you might have: —You want to give more to your house of worship or favorite charity but are concerned about not having enough income in the future. With a CGA, you can receive guaranteed income for life. —You need a last-minute tax deduction and have maxed out on your IRA or 401k plan contribution for the year. A CGA can act as an alternate retirement plan if you itemize deductions on your return. —You are interested in giving away more to charity but do not want the complications of setting up a charitable trust or naming a trustee. A CGA can be set up in days directly with the charity at no cost to you. —You intend to leave some or all of your estate to charity and would like to have all of your estate planning finalized now. CGAs are especially helpful if you would like to leave your estate to several charities because you can set up annuities with each charity. —You have adequate income now or are not yet retired, but you are concerned about costs later in life, like long-term care. You can receive a larger monthly payment later if you choose a deferred annuity and start the payments at a later date. —If you are concerned about paying capital gains taxes on assets you want to sell, you can avoid or defer taxes if you contribute the asset to the CGA. —If you would prefer your church or favorite charity to have access to some of your contribution now, a CGA is preferable to a charitable remainder trust or bequest that funds after you have died. —If you want to secure the financial future of your spouse, child, or another loved one, CGAs can be set up for the lives of two individuals. This could be especially helpful if you have a child in their 50s or older, and you are concerned about them not having enough guaranteed retirement income. —If you keep most of your funds in the bank but would like to earn a higher return, the charity invests your CGA funds (and generally considered safe) with usually a fixed rate of return that is higher than you would receive on a CD. —You would like to avoid paying taxes on a required minimum distribution, so you are planning on doing a Qualified Charitable Rollover (QCR). New rules will allow you to fund your CGA with a one-time $53,000 QCR. The QCR amount to your CGA will not be included as income on your return, but you can still receive the monthly income benefit from the CGA, and you can defer income further if you choose a deferred CGA. As you can see, a charitable gift annuity checks many financial and tax planning boxes, and it is easy and cost-effective to set up. Now to the specifics. First, you set up the CGA and donate the asset to the charity. The gift is set aside and invested by the charity. You (and also your spouse or other person if you choose a two-person annuity) will receive fixed monthly or quarterly payments for the rest of your lives. The charity can utilize the remaining funds after your death. How much is the tax deduction? The income tax deduction is equal to the amount of the contribution minus the present value of the payments that will be made to the donors during their lives. The charity will handle these calculations for you. How much income will you receive? Current suggested annuity rates range from 4.6-10.1% for those 50 and older, dependent primarily on your age. (In other words, you would receive $4,600 to $10,100 a year on a $100,000 contribution.) For recommended rates and how they are calculated, go to acga-web.org/current-gift-annuity-rates . The amount you would receive is generally fixed and will never fluctuate or adjust for inflation. But it’s also secured by the charity’s entire assets and will continue regardless of how the investments of the annuity perform. Here is an example. Dennis, 75, and Mary, 73, fund a $50,000 charitable gift annuity with appreciated stock that they originally bought for $20,000. They are eligible for an income tax charitable deduction of $17,584. They will then receive a payment rate of 6%, or $3,000 each year for the remainder of their lives. If you contact your church or charity, they will provide you with information regarding the minimum age, contribution requirements, and rates for their annuities. As you can see, a charitable gift annuity is more than just a financial tool-it’s a way to make a lasting difference while providing for yourself and your loved ones. As you plan for the year ahead, I hope this inspires you to take the next step. Wishing you and your family a Happy New Year filled with peace and purpose! Michelle C. Herting is a CPA, accredited in business valuations, and an accredited estate planner specializing in succession planning and estate, gift, and trust taxes. She is also the past president of the Charitable Gift Planners of Inland Southern California. Related Articles

Georgia's ombudsman accuses police of torturing pro-EU protestersGeorgia's rights ombudsman on Tuesday accused police of torturing pro-European Union protesters rallying for six consecutive days against the government's decision to shelve EU accession talks amid a post-election crisis. The country of some 3.7 million has been rocked by demonstrations since the ruling Georgian Dream party announced last week it would halt EU accession talks. Police on Tuesday evening used water cannon and tear gas on the sixth night of pro-EU protests in Tbilisi after the prime minister threatened demonstrators with reprisals amid a deepening crisis in the Black Sea nation. Georgia's Prime Minister Irakli Kobakhidze has refused to back down and threatened Tuesday to punish political opponents, accusing them of being behind violence at mass protests. Protesters gathered outside parliament for a sixth straight night but the crowd appeared slightly smaller than on recent nights, an AFP journalist saw. Draped in EU and Georgian flags, protesters booed riot police officers and threw fireworks. Police responded by directing hoses at the protesters, with some dancing in the jets and others sheltering under umbrellas. The police ordered demonstrators to leave through loud hailers and used water cannon to push the crowd away from the parliament. Then they deployed tear gas against the crowd in a nearby street, causing protesters to cough, with some using saline solution to wash out their eyes. Police roughly detained some demonstrators, Georgian independent television showed. Ombudsman Levan Ioseliani said in a statement that most injuries sustained by detained protesters "are concentrated on the face, eyes, and head", adding that "the location, nature, and severity of these injuries strongly suggest that police are using violence against citizens as a punitive measure", which "constitutes an act of torture." Tensions were already high after October parliamentary elections that saw Georgian Dream return to power amid accusations that it rigged the vote. But Kobakhidze's decision that Georgia would not hold EU membership talks until 2028 triggered uproar, although he insisted the country is still heading towards membership. The mostly young protesters accuse Georgian Dream of acting on Russian orders and fear the ex-Soviet country will end up back under Russian influence. Demonstrators projected a message Tuesday that read "thank you for not being tired" onto the parliament building, an AFP reporter saw. During the latest wave of protests, 293 people have been detained, the interior ministry said Tuesday evening, while 143 police have been injured. The health ministry said that on Monday evening 23 protesters were injured. "We want freedom and we do not want to find ourselves in Russia," 21-year-old protester Nika Maghradze told AFP. Demonstrators accuse the government of betraying Georgia's bid for EU membership, which is enshrined in its constitution and supported by around 80 percent of the population. Nugo Chigvinadze, 41, who works in logistics, told AFP at Tuesday's protest that he did not believe the prime minister's claim that the country is still aiming for EU membership. "Whatever our government is saying is a lie. No one believed it. No one," he said. "They are not intending to enter the European Union." Pro-EU President Salome Zurabishvili -- at loggerheads with the government -- has backed the protest and demanded a re-run of the disputed parliamentary vote. But Tbilisi's top court on Tuesday rejected a lawsuit filed by Zurabishvili and opposition parties to overturn the election result. That announcement came shortly after Kobakhidze -- who has ruled out talks with the opposition -- vowed to punish his opponents. "Opposition politicians who have orchestrated the violence in recent days while hiding in their offices will not escape responsibility," he told a press conference. International criticism of Georgia's handling of the protests has grown, with several Western countries saying Tbilisi had used excessive force. Kobakhidze threatened to punish civil servants who join the protests, after several ambassadors and a deputy foreign minister resigned. "We are closely monitoring everyone's actions, and they will not go without a response," he said. Using Kremlin-style language, Kobakhidze alleged the protest movement was "funded from abroad". He also accused non-government groups -- attacked in a repressive pre-election campaign by authorities -- of being behind the protests. At Tuesday's demonstration, Tsotne, 28, who works in IT, defied the threats of reprisals, saying: "It's a peaceful protest, of course but I guess as an individual, I'm ready to defend my country here." Georgia this year adopted Russian-style legislation designed to restrict the activity of NGOs as well measures that the EU says curb LGBTQ rights. The laws prompted the United States to slap sanctions on Georgian officials. But Kobakhidze said his government hoped that the "US attitudes towards us will change after January 20" -- when Donald Trump takes office. Meanwhile, NATO chief Mark Rutte on Tuesday slammed the situation as "deeply concerning", condemning "unequivocally" the reports of violence. led-jc-am-im/giv

Stock market today: Wall Street hits more records following a just-right jobs reportHCC hosts Chamber Social

(BPT) - The holidays are almost here! It means parties and events, hustle and bustle ... and figuring out what to buy for everyone on your list. Sometimes it's hard to get inspired with great ideas that your nears and dears will love at a price you can afford, right? The good news? Inspiration + savings are covered this year. One of the top gifts of Holiday 2024 is technology, and there are a lot of deals out there right now. Done and done! Here are 5 ideas for hot tech gifts for everyone on your list. Smartphones for the family T-Mobile is running a hot deal right now. Get four new smartphones at T-Mobile — this includes Samsung Galaxy S24 and other eligible devices — and four lines for just $100/month . It doesn't get better than that! These new Galaxy phones are tech-tastic, too, with features like AI, Circle to Search with Google, which can be used to help solve math problems and translate entire pages of text in a different language, and Note Assist with Galaxy AI, which lets you focus on capturing your notes and then Note Assist will summarize, format and even translate them for you. High tech spiral notebook for students We've got to admit, this is pretty cool. The Rocketbook looks (a bit) like a regular spiral, paper notebook. Here's the high tech twist: You can take notes, capture ideas, brainstorm, draw — whatever you do on paper — on the pad, and the Rocketbook digitizes your doodles and saves to the cloud device of your choice. Then you simply wipe the pad clean and it's good to go. Look for Black Friday and Cyber Monday sales at your favorite online retailer. Wrist-worthy smartwatches for athletes (or those who want to be) Everyone loves smartwatches (if you're not already tracking your sleep and heart rate, where have you been?) and the Google Pixel Watch 3 (41mm & 45mm) takes it to the next level with features for athletes or anyone who may be setting fitness goals for the coming year. The watch has workout prompts like Real Time Guidance — audio and haptic cues for when to sprint, cool down or maintain pace. It gives you the ability to program your workouts and even monitors your cadence and stride. It also has Offline Maps, with driving navigation, search and maps. Here's the deal of the century: Get it for free at T-Mobile when adding a qualifying watch line. Cute wireless keyboard for people who are all thumbs Who else is annoyed by typing email or texts or social posts on a smartphone? The Logitech Multi-Device Wireless Bluetooth Keyboard solves that problem with style! It comes in sweet colors like lavender, it's wireless, it's small and portable, and it works with just about any device. Pop it into your backpack or purse and you'll never have to thumb-out a message again. Speakers perfect for hosting and giving Have a music lover in your life or need the perfect hosting gift? T-Mobile has you covered. For a limited time, you can get the JBL Clip 5 for free when you pick up a Harman Kardon Onyx Studio 9 . The JBL Clip 5 is an ultra-portable Bluetooth speaker perfect for those on the go and the Onyx Studio 9's sleek design and booming sound will take care of all your holiday hosting needs. For more tech-tastic holiday gift inspiration, check out T-Mobile's holiday gift guide at t-mobile.com/devices/tech-gifts .The Western Balkans in the context of security challenges

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