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Doing Well by Doing Good

With all of the uncertainties looming large for 2018, we are encouraging our donors to plan ahead. Below are our recommended charitable planning strategies that , which could help you while helping our community:
  • Accelerate charitable contributions: Making larger charitable donations by December 31, 2017 may make sense, especially for those who may not be able to itemize in 2018. Consider establishing a Donor Advised Fund (DAF) or an Endowment. Opening a DAF will give you the tax deduction in 2017, while allowing you to recommend distributions to your favorite charities in the future.
  • Donate appreciated securities to charity: Contributions of appreciated securities, including stocks, bonds, and mutual fund shares are tax-efficient ways to support the charity of your choice. Donating appreciated securities provides you with a deduction worth the fair market value of the stock at the time it is donated, plus you avoid paying capital gains tax. You may also use securities to fund your Donor Advised Fund or Endowment.
  • Review your stock portfolios: Consider selling shares of stock that have declined in value, as losses can offset other potential sales generating a gain. Congress is considering a rule (potentially effective in 2018) requiring shareholders to sell stocks purchased first, which restricts planning flexibility.
We can help you find your best way to accomplish your philanthropic goals. Contact us today at 614-338-2365 to schedule an appointment to meet before December 31!

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