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Uncover these philanthropy tax benefits for high-net-worth individuals and start maximizing your impact today.

Tax Benefits of Philanthropy for High-Net-Worth Individuals

Wealth Management / Eric M. Solve, CFP®, EA

In the realm of wealth management, philanthropy is not only a testament to one’s values but also a strategic component of financial planning. For high-net-worth individuals, charitable giving can be a fulfilling way to contribute to societal well-being while also benefiting from significant tax advantages. Understanding the interplay between philanthropy and tax planning can help you maximize the impact of your contributions, both for your chosen causes and your personal financial landscape. Below, we’ll discuss the philanthropic tax benefits you might enjoy when you give back in intentional and strategic ways.

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Maximize Your Impact with Year-End Charitable Giving Strategies

Wealth Management / Jesse Lownsbury CPA, CFP® Candidate

As we enter the holiday season, it’s easy to get swept up in the spirit of giving and generosity that often blankets this time of year. The practice of end-of-year philanthropy has become a longstanding tradition, affording both individuals and organizations the opportunity to channel the holiday spirit into meaningful contributions towards causes near and dear to their hearts. Whether you’re driven by a desire to give back or seeking out ways to maximize your philanthropic influence, this article provides year-end charitable giving strategies that can help you make the most of your generosity.

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Maximize Your Impact with Year-End Charitable Giving Strategies Read More »

Maximizing the Tax Benefits of Charitable Giving

Tax Planning, Trust & Estate Planning, Wealth Management / Annrose Isaac CPA, CFP®, MBA

Recent changes in income tax laws have made it even more important for you to be strategic with your charitable giving during the year so that you can maximize tax benefits while supporting your favorite charities. As you contemplate gifts to your favorite charities in 2020, keep in mind that strategizing early in the year may allow you to take advantage of several methods for maximizing your tax savings. Here are a few tax-wise methods for charitable giving that you may be able to take advantage of depending on your financial circumstances.

You may be able to realize significant tax savings by “bunching” several years of charitable contributions in one year rather than spreading those contributions out over multiple years. Talk to your Financial Advisor if you plan to donate to charities every year so that you can determine if bunching your charitable donations will generate meaningful tax savings.

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