Year-End Charitable Giving Strategies to Consider: Charitable planning should be integrated into overall wealth management

As December 31 approaches, charitable giving becomes top of mind for many individuals. Whether driven by a desire to maximize tax incentives, honor a loved one, or thoughtfully allocate year-end bonuses, this season is a strategic time for philanthropy. For high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals, giving often requires careful planning and involves more advanced…

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Planning to Give: Giving Tuesday is December 3rd – How to align your generosity with your financial planning and why it matters

Giving Tuesday, celebrated annually on the first Tuesday after Thanksgiving, is a global movement that inspires individuals, families, and organizations to contribute to causes they care about. This year, on December 3, 2024, people around the world will unite to give back – whether through donations, volunteer work, or acts of kindness. As this special…

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How to Lower Your Tax Bill With the Charitable-Donation Deduction: Getting a tax break for contributions to charity often requires careful planning

Are fewer taxpayers deducting charitable contributions than in the past? Yes. The 2017 tax overhaul dramatically reduced the number of filers deducting charitable donations. While it didn’t limit them outright, it expanded the standard deduction so that far fewer taxpayers itemize these deductions on Schedule A. The number of taxpayers itemizing charitable donations dropped to…

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Thinking About Donating Your Stock to Charity?: Doing so is a powerful tax strategy to optimize your charitable giving

For investors seeking to support charitable causes while maximizing their tax benefits, donating stock instead of cash can provide significant advantages. By contributing appreciated securities to a qualified charity, investors can potentially deduct the full fair market value of the donated stock on their federal income tax return. Here are a few reasons why donating…

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