Charitable Giving Strategies for Businesses in Virginia Beach and Hampton Roads
Giving back to the community matters. We’ll help you structure your charitable contributions so you maximize both the good you do and the tax benefits you receive.
Giving Tuesday and the holiday season are just a few great opportunities to set aside charitable donations which translate to deductions you can take at filing time.
Although the 2017 Tax Cuts and Jobs Act made charitable giving deductions more difficult to take advantage of, there are workaround options… donor-advised funds and bunching gifts among them.
And, ultimately, giving to charity is a great way to connect with your community, build your network, and boost company culture.
Some charitable giving strategies we can help you implement to reduce your tax burden include…
Donating stocks, bonds, or other appreciated securities
Making a qualified charitable donation (QCD) from an IRA
Bunching your charitable gifts into one tax year
Using a donor-advised fund
Giving through your will, trust, or retirement plan
Setting up a charitable remainder trust or charitable lead trust
End of year is, understandably, the most popular time to give. However, charitable giving strategies such as these can maximize your tax savings and the impact of your gifts all year round. When it comes to charitable donations, both the method and timing are important.
Ask to speak with one of our tax specialists to make a plan for your charitable contributions.
Ready for Expert Tax Guidance?
Schedule your consultation with FasTax, Inc. today and let our professionals simplify the process for you.