Donating to charity carries many benefits for taxpayers, such as allowing people to connect with a personal cause and preserve legacy–and it doesn’t hurt that donating to charity can lower your tax bill. If donating to a charity is part of your tax plan, here are a couple of tips so you can maximize your tax-deductible donation before year-end.
Affluent individuals and families may choose to implement charitable giving strategies for the wealth of benefits these strategies provide.
Taxpayers, especially high-net-worth individuals, commonly experience the issues of high-income taxes and wealth transfer taxes in their financial planning.
Liberating your wealth is achieved with a multifaceted financial plan. Charitable giving is a huge pillar of our Centura Wealth’s mission. Charitable giving is a win-win scenario for everyone. You get to invest in an important cause while improving your bottom line.
The current low interest rate environment affords savvy financial planners certain tax planning strategies that leverage charitable giving. These strategies utilize charitable contribution limits, as a percentage of Adjusted Gross Income (AGI), to plan and mitigate taxes in the current year and up to the next five. This article explores the new 60% deduction introduced by Tax Cuts and Job Act (TCJA) of 2017.