Gordon L. Nelson, CPA, CFP® is a planned giving specialist. Want to get your questions answered? Write him or call him at 435.213.9986.
December 2024
Dear Gordon,
The end of the year is approaching, and I’m wondering if there are any tax-saving giving strategies I should be looking into right now?
Smart Giver
Naples, FL
Dear Smart Giver,
Absolutely! The year’s end is the perfect time to make the most of your giving while saving on taxes. Here are five smart strategies to consider:
- Gifts of Stock or Securities
If you own stocks or mutual funds that have increased in value, donating them directly to a charity like the Foundation can be incredibly tax-efficient. You’ll avoid paying capital gains tax and may receive a charitable deduction for the current market value.
- Donor-Advised Fund (DAF) Grants
Do you have a donor-advised fund? Now’s a great time to recommend a grant to support wildlife conservation. If you don’t have one, consider opening a DAF—it’s a simple way to maximize tax benefits while supporting causes you love.
- Monthly Giving
Joining a monthly giving program is a thoughtful way to support wild Florida year-round. It’s budget-friendly, easy to set up, and ensures steady support for initiatives you care about.
- IRA Charitable Rollover
If you’re 70½ or older, you can transfer up to $105,000 directly from your IRA to the Foundation without paying income tax on the withdrawal. This is a great way to meet your Required Minimum Distribution while supporting a cause you care about.
- Include Us in Your Legacy Plans
Thinking long-term? Including the Foundation in your will or trust can create a lasting impact while offering potential estate tax benefits. It’s a wonderful way to support Florida’s wildlife for generations to come. Thanks to our partnership with FreeWill, setting up your will is quick and free.
If you’d like more details or help getting started, don’t hesitate to reach out. There’s no better time to make a difference!
Warm regards,
Gordon
