Thanks for Joining Us for Our Charitable Giving Class at University of North Texas
As we mentioned, the presentation slides are below this on the page. We’ve recapped some of the key takeaways from the class further below to help you when completing your workbook. Finally, you can also download the charitable giving workbook we mentioned below.
Download your charitable giving workbook here
Download Your Charitable Giving Plan Workbook
The Key takeaways
What did we learn in our community class?
Non-Cash Charitable Distributions
Donations like clothes, vehicles, and household goods can contribute to your tax-savings. Remember, understanding the value of the donated items is crucial for maximizing the tax benefits.
Double Up
Giving
Doubling up on your charitable donations in the second year can allow for higher deductions and lead to greater tax savings than donating equal amounts in years one and two.
Qualified Charitable Donation/ Distribution (QCDs)
Remember, QCDs can satisfy your required minimum distributions (RMDs) without adding to your taxable income.
Charitable Gift Annuity (CGA) using RMD
This trade offers a steady income for life with good tax-savings, and supports a cause you care about, but be aware that the payment does not factor in inflation.
Donor Advised Fund (DAF)
This account can be funded now allowing you to grant to charities over time. Remember, accelerating donations can result in long-term tax savings.
Appreciated
Securities
Gifting a mutual fund, stocks, or ETFs can be more tax efficient than gifting cash. Remember, when appreciated securities you do not pay the Capital Gains Tax.
Combining Strategies
Combining multiple charitable gifting strategies like accelerated giving, appreciated securities, and Donor Advised Funds can completely supercharge your tax-savings. Allowing you to distribute more of your wealth without hurting your long-term financial health.
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