Wed11262014

News

VTA plans for  El Camino Real prompt skepticism

VTA plans for El Camino Real prompt skepticism


Ellie Van Houtte/Town Crier
A Valley Transit Authority proposal to convert general-use right lanes on El Camino Real to bus-only use received a chilly reception last week.

A Valley Transit Authority proposal that prioritizes public transit alo...

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Schools

MVHS students attempt Guinness World Record

MVHS students attempt Guinness World Record


Barry Tonge/Special to the Town Crier
Local residents participate in an attempt to break the Guinness World Record for making the most friendship braceletsNov. 9 at Mountain View High.

More than 300 Mountain View High School students gathered around...

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Community

Bigger, better days ahead for Foothill Veterans Resource Center

Bigger, better days ahead for Foothill Veterans Resource Center


Student veterans at Foothill College can seek support, access resources and socialize at the Veterans Resource Center.
Ellie Van Houtte/Town Crier

Carmela Xuereb sees bigger things in store for the Foothill College Veterans Resource Center. One...

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Comment

Serving those who served us: Editorial

“Thank you for your service” often comes across as lip service to our veterans. As always, actions speak louder than words.

The Rotary Club of Los Altos has taken plenty of action, contributing time and money to improve opportunities for veterans th...

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Special Sections

NASA, Google agreement preserves Hangar One

NASA, Google agreement preserves Hangar One


Bruce Barton/Town Crier
Hangar One, pictured here last January, will be restored under an agreement between Google and NASA.

NASA and Google Inc. forged an agreement last week that allows Google to lease a portion of NASA’s historic Moffett Fede...

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Business

Report: Los Altos homes priciest in U.S.

Report: Los Altos homes priciest in U.S.


ToWn Crier File Photo
The average cost of a four-bedroom, two-bathroom home in Los Altos is 30 times more than the price of a similar home in Cleveland, according to a Coldwell Banker report.

The average cost of one Silicon Valley home can purchase ...

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Books

Children's author signs books at Linden Tree

Children's author signs books at Linden Tree


Author Tiffany Papageorge is scheduled to sign copies of new her book 11 a.m. Dec. 6 at Linden Tree Books, 265 State St., Los Altos.

Papageorge’s “My Yellow Balloon” (Minoan Moon, 2014) is a Mom’s Choice “Gold” winner. In the book, the Los Gat...

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People

RICHARD CAMPBELL WAUGH

RICHARD CAMPBELL WAUGH

Richard Campbell Waugh of Los Altos Hills, Ca. died at home October 31, 2014 surrounded by his family and caregivers.

Dick was born 1917, in Fayetteville, Arkansas. He earned a BS in chemistry from University of Arkansas and a PhD in organic chemi...

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Travel

Weekday Wanderlust highlights the joys of armchair travel

Weekday Wanderlust highlights the joys of armchair travel


Dan Prothero/Special to the Town Crier
Travel writers at the October gathering of the Weekday Wanderlust group include, from left, James Nestor, Kimberley Lovato, Paul Rauber, Marcia DeSanctis and Lavinia Spalding.

Travel writing should either ̶...

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Stepping Out

Pacific Ballet's 'Nutcracker' opens Friday in downtown Mtn. View

The Pacific Ballet Academy is back with its 24th annual production of “The Nutcracker,” scheduled this weekend in downtown Mountain View.

The story follows young Clara as she falls into a dream where her beloved nutcracker becomes the daring prince ...

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Magazine

Christmas At Our House home tour celebrates 26 years

Christmas At Our House home tour celebrates 26 years


Courtesy of Christopher Stark
Homes on the St. Francis High School Women’s Club’s Christmas at Our House Holiday Home Tour showcase a variety of architectural styles.

The days grow short on sunshine but long on nostalgia as the holidays approach...

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'Tis the season for charitable giving – and tax savings

For some, the end-of-year holidays engender thoughts of helping those less fortunate. For others, it’s a time to develop strategies to save on taxes.

Charitable giving allows you to achieve both goals. However, what if you would like to help but don’t yet know which charities you prefer? One of the most flexible ways to address this is to use a donor-advised fund (DAF).

A DAF is an account similar to a 401(k), sponsored and administered by a public charity for the purpose of managing charitable donations to other organizations on your behalf. It offers you the opportunity to donate money and get an immediate tax deduction before deciding which charities you want to fund. Rather than making donations directly to your favorite charities, you can donate the money to a DAF and in the future direct grants to specific charities through the DAF. For wealthy individuals and families, a DAF provides simpler accounting, higher tax-deduction limits and less strict payout requirements compared to creating your own private foundation.

However, there may be differences across DAFs in the offerings, so selecting the most appropriate one can be challenging. Following are questions you should ask the sponsoring organizations before selecting the right DAF for you.

• What types of grants will the DAF sponsoring organization approve? Generally DAFs are able to support most 501(c)(3) organizations, but there are sometimes restrictions, such as religious or international requirements. If you cannot support your favorite charities through the fund, it’s probably not for you.

• Will the DAF accept assets other than cash for funding? Many DAFs accept publicly traded stock, privately held company stock, real estate, life insurance and even art and collectibles.

• What are the investment options? Is there a minimum account size? Some DAF sponsors allow donors or their financial advisers to manage the funds within the DAF themselves. This may be of value to you if you plan on making distributions over a long period of time.

• What is the process for making grants from the fund? Is there a minimum amount? Can it be done by phone or online? Is there an approval process? What are the costs?

• What resources are provided to help clients identify causes or charities and plan their giving? If you know exactly which charities you want to support, you won’t need such help. But some sponsoring organizations additionally help educate their DAF account holders on local needs as well as how to be more effective donors. Working with such organizations could help develop a greater sense of pride and satisfaction through your charitable giving.

• Can the assets in a DAF account be transferred to another DAF sponsor? You may want to change in the future for any number of reasons or may simply prefer not being locked in.

• What happens when the DAF account creator is no longer alive? Can successor trustees be named? Can the DAF holder designate charitable beneficiaries to receive the final amount in the fund?

When it comes to selecting a DAF, there is no shortage of choices. Brokerage houses Fidelity, Schwab and Vanguard run the largest national DAFs. If you are more inclined to support your local community, there is the Los Altos Community Foundation right in our own backyard. It supports local nonprofits as well as national charities.

Regardless of your preference, DAFs remain an excellent vehicle through which you can accomplish good in the community while at the same time saving on your taxes.

Los Altos resident Artie Green is a Certified Financial Planner and principal at Cognizant Wealth Advisors. For more information, call 209-4062 or email This email address is being protected from spambots. You need JavaScript enabled to view it. .

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