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Thompson Law, PLLC

Estate & Business Planning Attorneys in Sioux Falls, South Dakota

605-362-9100
Estate Planning Attorneys Licensed in Iowa, Minnesota, Nebraska and South Dakota
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How Much is Too Much?

September 26, 2019 by Academy of Estate Planning Attorneys

We all want to help our kids financially, but how much is too much? Businessman billionaire Warren Buffet was quoted in a 1986 Fortune article that, even if you had ample wealth, one should leave your kids “enough money so that they would feel they could do anything, but not so much that they could do nothing.” Bill Gates, Warren Buffett, and other philanthropists in the U.S. and abroad have pledged to give the majority of their wealth to charity. Through their inspiration, more than 200 … [Read more...] about How Much is Too Much?

Filed Under: Legal Education, Estate Planning Tagged With: Gates, Giving Pledge, Philanthropy, charity, Buffett

Giving Back

December 19, 2018 by Thompson Law

There are many ways to give back. Some give back through donations of cash or property. Other people give back by donating their time or expertise. Some people do both. When you give cash to a public charity, for example, you can deduct your contribution up to 60% of your adjusted gross income. For example, Mary Smith had an adjusted gross income of $100,000. She made a contribution of $60,000 to her alma mater. This resulted in Mary being taxed on $40,000 instead of $100,000, which cut her … [Read more...] about Giving Back

Filed Under: Legal Education, Estate Planning Tagged With: charitable IRA rollover, IRA, charity, giving back, grouping deductions

Being Thankful and Sharing Your Blessings

December 5, 2018 by Academy of Estate Planning Attorneys

As we gathered around the Thanksgiving table last week, we saw the faces of our loved ones and probably contemplated how grateful we are for them and for all our blessings. “We must find the time to stop and thank the people who make a difference in our lives.” – John F. Kennedy, 35th President of the United States. “If you are really thankful, what do you do? You share.” — W. Clement Stone, businessman, philanthropist, and author. There are different ways we can share. We can share … [Read more...] about Being Thankful and Sharing Your Blessings

Filed Under: Legal Education, Estate Planning Tagged With: Thanksgiving, charity, 529, ABLE, giving

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Thompson Law, PLLC

Thompson Law, PLLC.
5027 S. Western Avenue
Sioux Falls, SD 57108
Phone: 605-362-9100
Fax: (605) 362-9101

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

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