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Maximize Your Giving in 2017

Author National Philanthropic Trust

June 28, 2017

The calendar year is halfway over and it’s time to think about your charitable giving in 2017.  With tax talk ramping up in Washington and a healthy stock market, this year could be a good time to assess your personal financial and philanthropic goals to minimize your tax bill and maximize your charitable impact. Here are a few things to consider for your philanthropy in the second half of the year:

The value of your charitable tax deduction. Tax reform discussions continue in Washington, D.C. If proposals to change the 100 year-old charitable tax deduction are enacted, your charitable gifts may be more tax advantageous this year than in the future.

The type of assets you can give. Gone are the days of checkbook philanthropy. Donors can fund charitable giving vehicles, like donor-advised funds, with stock, real property or complex assets like LLC interests or restricted stock. There can be tax advantages to gifting appreciated securities and, more importantly, more funds available to donate to charity.

The causes or organizations that move you. It sounds simple, but many of us give impulsively throughout the year when we’re asked. To have the greatest charitable impact, consider focusing on a few charities or issues that resonate with you to make fewer, larger gifts.