Charitable Giving Tax Strategies

You love making a difference in the world by supporting good causes… And saving a little bit on your taxes is a nice kickback when you do.

Giving Tuesday and the holiday season are just a few great opportunities to set aside charitable donations which translate to deductions you can take at filing time.

Although the 2017 Tax Cuts and Jobs Act charitable giving deductions more difficult to take advantage of, there are workaround options… donor-advised funds and bunching gifts among them.

And, ultimately, giving to charity is a great way to connect with your community, build your network, and boost company culture.

Some charitable giving strategies we can help you implement to reduce your tax burden include…

Donating stocks, bonds, or other appreciated securities

Making a qualified charitable donation (QCD) from an IRA

Bunching your charitable gifts into one tax year

Using a donor-advised fund

Giving through your will, trust, or retirement plan

Setting up a charitable remainder trust or charitable lead trust

End of year is, understandably, the most popular time to give. However, charitable giving strategies such as these can maximize your tax savings and the impact of your gifts all year round. When it comes to charitable donations, both the method and timing are important.

Ask to speak with one of our tax specialists to make a plan for your charitable contributions.

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   Ryan Mayo 
 
 
 
 Trustindex verifies that the original source of the review is Google. We recently made a switch over to BMF after a recommendation from our financial planning team and have just completed our first year of returns with Brandon. After many years of feeling like a burden to our tax professional, what a breath of fresh air this tax season has been! The most notable change that we have appreciated is his dedication to good personal service ... along with great care and focus, not to mention time-efficiency. This will be a first time in years where we're not filing for an extension. I wasn't sure it was possible, but am very pleased to have begun this relationship with Brandon and BMF and look forward to continuing with him into the future together.
  
 
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   Matt Lyons 
 
 
 
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