Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Whether it's helping others who are less fortunate or simply to share your good fortune, we can lay the roadmap to charitable giving.
Our present tax code offers incentives for gifting of one’s assets or incomes.
By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate. Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.
How do you decide how much to give each year?
Do you donate throughout the year or is there a rush to give at the end of the year?
Should you donate all or a portion of the required minimum distribution (RMD) from your individual retirement account to charity rather than pay taxes on the RMD?