Ryan Van Wagenen: Lets Make Philanthropy & Charity More Important

Ryan Van Wagenen has made it his goal to make 2018 the year of giving! Since turning 60, this is a new phenomenon that has come into his life after living many years not as focused on others as it should be. Sure there has been times where he has been focused on others, but in general not the way he would like to be. Recently, he has decided to reshape his life and try to give back to the community whenever possible. After retiring from his job, he has a lot more time. Initially, this was all selfish time, but he noticed that as he spent time serving others, his happiness grew. This is something that his wife and kids are extremely fond of as he has a much better relationship with his family and those he loves. Since moving to Fort Worth, Ryan Van Wagenen has noticed that Texas has some of the best people in America. Although North Texas wasn't too affected by the hurricanes as other parts of the state were, Van Wagenen is quite determined to find a way to make a difference in this great community.

The year 2018 makes the world of philanthropy to be transformational with the new federal tax laws underway. The new federal laws have some people worried about an increase concerning income inequality. Furthermore, they feel concerned about the mounting need for social services. On the other hand, the optimists see this in glowing light dubbing 2018 as the start of the “golden age of giving.

This 2018, there are significant trends that make the philanthropic landscape a spot that could go further than ever before. There will be huge changes in terms of philanthropy this 2018. Most of these changes are due to the tax reform legislation passed before 2017 passed. This new legislation made the standard tax deduction this year to reach almost double.

For single people who file for tax, their standard tax deduction will become $12,000 from $6350. For married couples, their standard tax deduction will become $24,000 from $12,700. These changes will have an impact on charity. That is, a citizen can get a tax benefit if their charitable donations exceed their standard tax deduction.

This makes charity and philanthropy even more important this 2018. Citizens can take advantage of their charitable donations to earn a tax benefit. A U.S. citizen can hit two stones at once if they look at the new tax legislation differently. They can earn a tax benefit while at the same time fund their charitable giving even better.

The new federal tax law will likely reduce the number of taxpayers itemizing their deductions from the existing 30% to only the richest 5%. This means that this 2018, giving might fall by $20 billion. In this rate, the top 5% that will still itemize their deduction will likely focus on giving charity to big institutions. They give more to hospitals and universities but less to social service, local and non-profits.

The effects of the new legislation are yet to be seen in the life of the average American. However, experts are expecting a huge change in the industry of charitable giving. It becomes more important for philanthropists to give, especially at a much higher level, if they want to see tax benefits. In order to see these benefits, they will need to give more than double than they used to.

The good news is being a donor provides them with a lot of power. Before the year ends, donors and philanthropists are sure to make a big difference for their causes. In 2018, philanthropists and ordinary citizens can make their donations go further. This year will also be open for different charity trends such as “bunching.”

This trend is a tax strategy where a donor consolidates charitable gifts worth several years into a single tax year. This way, they can maximize their deductions and earn a significant tax benefit. Since 2018 marks the age for giving, taxpayers can expect more charity trends to come up. More and more people will find a way to make more donations to earn tax benefits and also to make the most of their charity.

With so much change and benefits occurring in 2018, I hope we all look to give of our time and resources whenever possible. In Fort Worth, we have so many great people and opportunities. Some events in the area coming up that would be worth checking out, are below:

1. The 15th Annual Kite Flying Festival. Everyone loves a free event and time to give of our time and service. This is a perfect one this Saturday, May 5th from 3:00pm - 8:00pm. This is open to the public and includes some great family activities such as face painting for the kids, great food, a talent show, and of course kite making sessions! Please make an effort to join and attend if you are able. Address: North Lake College, 5001 N MacArthur Blvd, Irving, TX 75038. Bring picnic blankets and chairs and enjoy the day with great neighborhood friends! If you have any questions, Vibha can be contacted at kff@dallas.vibha.org

2. 2018 Teacher Appreciation Comedy Show. Saturday, May 12th from 6:00pm - 9:00pm is a great opportunity to show appreciation by laughing and enjoying time with local residents to thank our great teachers in the region. Teacher Appreciation is a night that will include dinner, live music, fun, and most importantly LAUGHS! Come and laugh with two local Dallas Fort Worth comedians as they use clean comedy to bring us all together. Comedians include Jazzmen Tate and Staci Halloway. These two are great! There will be lots of door prizes and other giveaways for those that come. Vendors will also be selling other products for your shopping pleasure. Address: 5919 E. Lancaster Ave, Fort Worth, Tx 76112

Ryan Van Wagenen is a local Fort Worth resident that is trying to get back in the zone and focus on helping those in need. Since retiring, he is doing everything possible to benefit the community within Fort Worth. Please do get in touch if you have any questions or have some ideas to collaborate on strengthening the community.