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Charitable giving is not only a way to support causes you care about but also an opportunity for tax savings. This week, we'll explore tax-efficient charitable giving strategies. ✳️Qualified Charitable Distributions (QCDs): If you're 70½ or older, you can donate directly from your IRA to a charity. ✳️Donor-Advised Funds: Contribute to these funds for immediate tax deductions and the flexibility to distribute donations over time. ✳️Appreciated Stock Donations: Donate appreciated securities to avoid capital gains tax. Giving back can be both meaningful and tax-savvy. We're here to help you make the most of your charitable contributions. 🌐www.dactaxact.com #CharitableGiving #TaxEfficientGiving #TaxSavings #QualifiedCharitableDistributions #DonorAdvisedFunds #AppreciatedStockDonations #GivingBack #SmartGiving #TaxPlanning #FinancialWellness #SupportingCauses #Philanthropy #TaxTips #MakeADifference

Worldwide Day of Giving Today is the Worldwide Day of Giving, and we wanted to highlight a few giving strategies that can make a big impact on your taxes and in your community. ⌛ Donating your time is a great way to get involved, and can help teach your children the importance of giving back. 📊 Donor Advised Funds are a tax-efficient account that are maintained and operated by a section 501(c)(3). 📃 Charitable Trusts offer financial advantages for philanthropically minded individuals with nonessential assets, such as stocks or real estate. ❤️ Allows individuals to donate to charities directly from a taxable IRA instead of taking their required minimum distributions. #charitablegiving

As the holiday season approaches, we want to remind everyone about the importance of charitable giving and its tax benefits. Donations to qualified organizations must be made by December 31, 2024, to qualify for a deduction on your 2024 tax return. Here are some key points to keep in mind as you prepare your charitable giving: ✅Contributions must go to qualified charitable organizations. ✅Keep proper documentation for your tax records. ✅Be aware of deduction limits: generally, cash contributions up to 60% of your AGI and non-cash contributions up to 50% of your AGI. Thoughtful planning can maximize the impact of your donations while also providing tax benefits. If you have questions or need assistance with your charitable giving strategy, please reach out to our team. We're here to help! #CharitableGiving #Donations #TaxBenefits #GIA #GasawayInvestmentAdvisors

As we approach tax season, it's the perfect time to consider making a charitable donation. Did you know that any donation over $2 to an endorsed charity such as Anchor can be claimed as a tax deduction? This means you can lower your taxable income while contributing to a cause that makes a difference in the lives of those doing it tough. Why donate now? ✅ Boost Your Refund: Donations can increase your tax refund by reducing your taxable income. ✅ Support Worthy Causes: Your contributions can make a significant impact on the community and those in need. ✅ Feel Good: Giving back is a rewarding experience, knowing you're helping to make a positive change. Help your tax return, while helping families experiencing homelessness. Jump on our website here: https://lnkd.in/djB89wtQ For more information on taxable donations, visit the Australian Taxation Office: https://lnkd.in/gj3UUeNc #TaxSeason #Charity #Donations #TaxDeduction #GiveBack #CommunityImpact #BetterTogether

How Can Charitable Donations Benefit My Tax Bill? ❤️ Made a donation to a registered charity? You might be eligible for valuable tax relief! For sole traders, eligible donations can reduce taxable income, keeping more money in your business while supporting great causes. Keeping track of your charitable contributions is key—let’s ensure you’re claiming all the tax benefits you’re entitled to. Have questions? We’re here to help you maximise your savings - Call our office on 0117 2901204 #CharityDonations #TaxRelief #SoleTraderTips #GivingBack #BarrettStaceyAccounting

How Can Charitable Donations Benefit My Tax Bill? ❤️ Made a donation to a registered charity? You might be eligible for valuable tax relief! For sole traders, eligible donations can reduce taxable income, keeping more money in your business while supporting great causes. Keeping track of your charitable contributions is key—let’s ensure you’re claiming all the tax benefits you’re entitled to. Have questions? We’re here to help you maximise your savings - Call our office on 0117 2901204 #CharityDonations #TaxRelief #SoleTraderTips #GivingBack #BarrettStaceyAccounting

Your philanthropy can help you save up on taxes. According to the IRS rules, you can deduct charitable contributions of up to 60% of your adjusted gross income (please note that the deductions for contributions of non-cash assets are capped at 30%). You can take advantage of charitable deductions by making cash donations directly to an eligible charity or donating appreciated non-cash assets that could allow you to avoid capital gains tax. Another option is establishing a charitable trust or setting up a donor-advised fund. #philanthropy #IRS #charitablecontributions #taxbenifits #taxplaning #TaxTip #savetax #savetaxes #CharitableTrust

The holiday season reminds us that giving is about more than just money—but smart giving strategies can help you do more good. Year-end charitable giving tips to consider: 🔹 Bunch your gifts: combining multiple years of donations could exceed the standard deduction. 🔹 Give appreciated assets: Donating stocks directly to charity can save on capital gains. 🔹 Consider QCDs: If you're 70½+, give directly from your IRA to satisfy RMDs. Want to optimize your giving strategy? Message me to connect with a Charitable Gift Planner for a complimentary consultation. - #CharitableGiving #FinancialPlanning #TaxStrategy Disclosures: thrivent.com/social

📹 New Video: Maximizing Tax Deductions for Charitable Contributions! Hi, Tiffany from Washington & Co Inc. here! Want to maximize your tax savings while supporting the causes you care about? Donating to a qualified charity can reduce your taxable income, but you need to itemize your deductions to claim them. You can also donate appreciated assets like stocks to avoid capital gains taxes while deducting the full value. Another tip is to consider bunching donations, grouping contributions into one year to exceed the standard deduction limit and boost your tax savings. Watch our video to learn more strategies for maximizing your charitable giving deductions! Need help? We’re here to assist. For help, visit: https://hubs.li/Q02RyDjB0 #CharitableGiving #TaxDeductions #AppreciatedAssets #WashingtonAndCo #BunchingDonations #TaxPlanning #TaxStrategy

Charitable giving creates a win-win situation for everyone involved: the charity and its beneficiaries, the broader community investment, and the donor who gains an immediate tax deduction. With upcoming tax cuts, there are innovative strategies to structure your charitable contributions to maximize the impact of your generosity. Thank you Noel Whittaker and Australian Philanthropic Services for this helpful article. #CharitableGiving #TaxSavings #APSFoundation #Philanthropy #FinancialPlanning