Our 4th Quarter blog series will center around the themes of giving and generosity as the year comes to a close. At Master’s, we emphasize the importance of giving out of a genuine desire to be generous, rather than solely for a particular tax break or advantage. Nevertheless, if you wish to express generosity, we are dedicated to carefully planning how to maximize the tax benefits associated with your giving.
When it comes to giving, a common perception involves simple actions like writing checks or sending money to charities. However, in the upcoming weeks, we will explore a variety of other giving methods and concepts.
- Cash Giving – Jon will talk about the different ways in which you can leverage your cash giving to generate additional tax advantages, especially when taking a multi-year approach to your giving.
- Securities Gifting – Charlie will discuss the ins and outs of gifting appreciated securities, such as stocks and bonds. This can be a great way to achieve multiple tax advantages, but there are nuances that must be considered.
- Gifting an Appreciated Asset – What if you have an appreciated real estate property or business asset with a low stock basis? Lyle will discuss the ability to gift these assets and the many nuances that come along with more complex gifts.
- Donor Advised Funds – These can be a great tool for flexibility in giving. We will discuss the different ways to fund DAFs, as well as the longer-term advantages of this simple, yet effective giving tool.
- Split Interest Gifts – Charlie will wrap up our series by discussing split-interest gifts, where the donor receives a partial interest in a charitable gift. These unique tools can fit specific situations and accomplish more than one goal with just one gift.
As we approach year-end, we encourage you to re-visit your giving goals for 2023. Have you made the impact you were aiming for with your financial resources? Where can you address needs that are most important to you?
We look forward to having these discussions with you over the next month and a half!