Year-End Giving

Year-End Giving


As we approach the end of the year, it is important to keep in mind that any charitable gifts you are planning to make must be completed before year-end and must go to qualified charities in order for you to be eligible to receive any 2017 tax deduction for making these gifts.

This IRS website contains a searchable database of qualified charities –  https://www.irs.gov/charities-non-profits/exempt-organizations-select-check.

Also, depending upon your personal tax and financial circumstances, it may make sense for you to consider gifting appreciated securities rather than  cash and/or to gift directly to charity from your IRA assuming you are subject to the required minimum distribution rules and have not already satisfied your annual distribution requirement for 2017. Furthermore, depending upon your philanthropic goals, it may also behoove you to consider opening a “Donor Advised Fund” in order to simplify your gifting and the associated record-keeping requirements and to have better control over the timing of your tax deductions. If you would like to learn more about how to maximize your charitable gifting strategies, please do not hesitate to contact your financial advisor at BLB&B Advisors!

Posted by BLBB

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