Charitable Giving
We believe that giving is a necessary component of a prudent financial plan. This includes supporting causes that align with your values and convictions. Whatever your reason for charitable giving, we can help plan for and create tax efficient vehicles that will support you in your desire to help others. We can help you understand and utilize the following strategies for your charitable giving needs:
Charitable Remainder Trust: A remainder trust enables the donor to transfer an asset while retaining the right to the income it generates.
Charitable Lead Trust: Also known as an Income Trust, this vehicle transfers the income rights to the charitable organization.
Donor Advised Funds: A donor advised fund enables the donor to make deductible charitable contributions in one year, but postpone the distribution to the end charity to a later time.
Qualified Charitable Distributions (QCD): A QCD is a charitable distribution made directly from a qualified retirement account. The QCD fulfills the IRS's required minimum distribution rules, while potentially lowering one's income tax obligation.
Donating Appreciated Securities: Donating appreciated securities to charity allows taxpayers to avoid paying capital gains tax while obtaining a charitable deduction on the fair market value of the securities donated.
Timing: We can advise on the proper timing of making charitable contributions to optimize the overall tax impact.
