Give Smart this Giving Tuesday

Today marks Giving Tuesday 2014. It is well known that giving comes from the heart and is not typically financially motivated, but it doesn’t hurt to receive a little benefit when your tax liability is reduced.  Taxes and charitable giving are unique to the individual. Since these recommendations might not be appropriate for everyone, always check with a professional advisor before making any final decisions. Donating Appreciated Stock Starting with the basics, you can typically donate appreciated stocks and mutual funds directly to a charity equipped to accept them.  If you want to make several gifts to multiple recipients consider opening a donor advised fund with either Charles Schwab or Fidelity Investments.  The donation to a donor advised fund is tax deductible in the year deposited to the account.  If you want to make several donations or you aren’t sure which charity you want to give to, the donor advised fund is ideal.  For more information on donor advised funds please visit the Charles Schwab and Fidelity Investments websites by clicking the links below. https://www.schwabcharitable.org https://www.fidelitycharitable.org Qualified Charitable Distributions The Read on! →

Last Minute Gifts for the Person Who Has it All

Despite the fact that I am a planner by nature, somehow the holidays always sneak up on me and I am left to complete all Christmas shopping a week or two before the big day. (Yes, I have resolved to change my ways in 2014…) I also find it increasingly difficult to come up with creative gift ideas as family members get older, have steady careers, good salaries, and can buy what they want at the drop of a hat, leaving me with very little to work with in the way of fun and exciting gifts that still have an element of surprise. If you find yourself in a similar predicament this year, I’m here to lend a few suggestions that are not your typical Christmas gift. Let’s think out of the box this Christmas…quite literally, because none of these gifts fit under a tree! 1.    Donating to a charity or cause in someone’s honor. Is there a charity or cause that you care deeply about? Or better yet, maybe a charity or cause that your family member or friend Read on! →

Making Tax-Efficient Donations and Gifts

Building on our recent tax newsletter, below are some charitable giving suggestions that might help reduce taxes while providing some personal fulfillment.  It is well known that giving comes from the heart and is not typically financially motivated, but it doesn’t hurt to receive a little benefit when your tax liability is reduced.  Taxes and charitable giving are unique to the individual. Since these recommendations might not be appropriate for everyone, always check with a professional advisor before making any final decisions.   Donating Appreciated Stock Starting with the basics, you can typically donate appreciated stocks and mutual funds directly to a charity equipped to accept them.  If you want to make several gifts to multiple recipients consider opening a donor advised fund with either Charles Schwab or Fidelity Investments.  The donation to a donor advised fund is tax deductible in the year deposited to the account.  If you want to make several donations or you aren’t sure which charity you want to give to, the donor advised fund is ideal.  For more information on donor advised funds please visit Read on! →