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Specializing in Tax Preparation and Planning for Individuals, Business, Trusts and Estates. SDC Tax and Business Services’ Mission is to serve our client’s while improving their financial needs and that of our community. We offer a full range of tax and accounting services. Our clients include individuals, corporations and small business owners. We pledge a strong commitment to our clients, and feel a vested interest in their success. We are known for our responsiveness, friendliness and knowledge. Our strength is our staff, whose knowledge, integrity, and professionalism has helped us develop lasting relationships with our clients. Our company has grown over the years through these relationships and referrals to our clients, friends, families and business associates. We are committed to supporting each member of our firm and our clients, in an atmosphere of respect and trust. We value community and the opportunity to participate to improve individual lives. Click here for directions to our office. LockBox Smart Decisions Client Newsletters Client Brochures, Tax Planning Guides and much more...
Donor-advised funds, though they may bear the donor's name, are not separate entities, but are mere bookkeeping entries. They are components of a qualified charitable organization. A contribution to a charity's donor-advised fund may be deductible in the year it is made if it isn't considered earmarked for a particular distributee. The charity must fully own the funds and have ultimate control over their distribution. To document the contribution, the taxpayer must get a written acknowledgement from the fund's sponsoring organization that it has exclusive legal control over the assets contributed. Though the donor can advise the charity, which generally will follow the donor’s recommendations, the donor cannot have power to select distributees or decide the timing or amounts of distributions. The charity must also ensure that all distributions from the fund are arm’s-length and do not directly or indirectly benefit the donor.
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