Shop locally and save our communities!

The weather outside is frightful, which is all the more reason to shop locally.

As the holidays roll around, we are all tempted to save by shopping the big box stores. But when you patronize local businesses, the money stays in our town and benefits the community. Small businesses are the backbone for local nonprofits. They have given countless in-kind gifts, and generous sums of cash. They support everything from kids’ soccer to environmental awareness. By shopping locally, you help maintain a vibrant area. You are helping to improve our local economy, create local jobs and support the functions that make ours a real community, not just a pretty place to visit.

This year, before you make your pilgrimage over Mount Rose, check out what our local businesses have to offer. It could save you time and gas while revitalizing our town.

Get a tax break

In October, Congress passed a brief extension of the IRA charitable rollover provision. With this extension, donors 70 or older can make tax-free charitable gifts totaling up to $100,000 per year from their IRAs directly to charities. Prior, donors had to report the IRA gifts as ordinary income, taxable at regular rates.

The IRA donation rollover might be a good strategy for individuals who face donation limits based on income. Generally, donors cannot donate an amount that exceeds 50 percent of their adjusted gross income. But when the money goes directly to the charity from their IRA, it doesn’t count against that limit because it’s not included in donors’ gross income. By making a charitable distribution with all or part of their required IRA distribution, donors may reduce income and reduce the percentage of social security subject to taxation.

If this giving technique works for you, and you’re old enough to use it, make plans now. This provision expires at the end of 2009.

Parasol honored

For the second time in a year, the Parasol Tahoe Community Foundation was awarded four stars for sound fiscal management by Charity Navigator, the country’s foremost charity evaluator. Only 18 percent of all the charities rated have received consecutive 4-star evaluations. The designation means that Parasol consistently outperforms most other charities in America for fiscal responsibility, transparency and quantifiable results.

Claire Fortier is the Communications Director for the Parasol Tahoe Community Foundation.

Thinking about Buying or Selling?

Call Alvin's Team Today! 877-651-7810

Or visit our website: www.LivingLakeTahoe.com