FEMA photo/Andrea Booher

For many people, one of the greatest joys that wealth can bring is the opportunity to give to a charitable cause that reflects your personal values, individual beliefs, or life experiences.

In support of your giving goals, here’s a quick list of tips to enhance the value of your charitable gifts, both during the upcoming giving season and throughout the year. 

 

1) Research charities carefully to verify an organization’s taxable status, view their financial records, and learn about their leadership.

2) Consider automatic payroll deductions. Many large corporations offer giving structures similar to the Combined Federal Campaign for Federal employees.

3) Contact a community foundation to ensure directed giving that fulfills the specific needs of your community or region, and for guidance in your charitable objectives.

4) Join a giving circle to meet new friends who share your philanthropic goals, and increase the impact of your gift through collective giving.

5) Attend charitable events and fundraisers to contribute to a good cause, while also having fun!

6) Inspire others to participate and donate to the causes you care about.

7) Engage on social media with like-minded individuals and organizations, and help spread the word to others.

8) Volunteer your time, knowledge, or services, but be sure to log your travel expenses for a deduction at tax time.

9) Establish a charitable giving fund to ‘pre-fund’ your philanthropy, especially if you’ve experienced a significant tax event such as a high income year or sale of a business.

10) Donate appreciated securities to minimize your future tax liabilities, while still fully benefiting your chosen charity.

11) Establish a legacy fund to bequeath assets through thoughtfully structured estate planning.

12) Designate a charity as a beneficiary on your retirement account(s).

13) Teach your children to successfully manage their finances so that they too can give wisely and sustain your philanthropic values.

14) Create lasting change with your gifts by becoming involved with charitable organizations.

15) Join a board helping to guide and direct the future of an organization close to your heart.

When it comes to your finances, SageVest Wealth Management takes the time to listen and understand what matters most to you. If giving is a high priority, we can help define your philanthropic objectives and devise customized, tax-optimized strategies that meet your giving goals. Please contact us to discuss further.

Prepared by SageVest Wealth Management. Copyright 2016.

The information contained herein is obtained from sources believed to be reliable, but its accuracy or completeness is not guaranteed. This article is for informational purposes only. The views expressed are those of SageVest Wealth Management and should not be construed as investment advice. All expressions of opinions are subject to change and past performance is no guarantee of future results. SageVest Wealth Management does not render legal, tax, or accounting services. Accordingly, you, your attorneys and your accountants are ultimately responsible for determining the legal, tax and accounting consequences of any suggestions offered herein.

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