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Four Ways to Accelerate Your Giving
Donor Advised Funds (DAFs):
- For those with built-up savings normally giving each year
- You can make contributions to the DAF and recommend
grants to your favorite charities over time - Immediate tax deductions
- Investment growth allows you to give more over time
Beneficiary Designations:
- You can earmark a portion of your assets to be left to charity
- Retirement accounts like 401(k)s, IRA’s, Life Insurance
Policies, Bank Accounts, Brokerage Accounts and Trusts
Qualified Charitable Distributions (QCDs):
- Allows those 70 1/2 or older to make direct charitable
contributions from their IRA to qualified charities - Direct contributions count towards fulfilling your RMD
- These are excluded from your individual taxable income
- Annual limits of $105,000 per year
Gifting Highly Appreciated Assets:
- Gifting stocks to charity, avoiding capital gains taxes on the
appreciation of the asset - Support your charity while maximizing tax benefits
- Make a meaningful impact without liquidating assets
Please consult with a financial planner before taking action.
