Finding the right donation strategy for everyone...
Happy Friday to everyone!
I ran across this article on advisor.ca discussing strategies around donations. At this time of year, charities are running campaigns in order to attract additional funds to help with their operations. Donating to one of your favorite charities is a noble gift and YOU ensure you are leaving a legacy to something near and dear to your heart. I have spoken about this before in other blog posts.
It is also a great year-end tax strategy and not all donations require you to find NEW dollars now. They can be part of your investments and insurance policies that you already own and giving parts of these assets to charities can help you save on taxes owing each year. They can be great year-end strategies to employ.
Have a read of this article and remember, to always consult with a tax professional to get the best advice for your situation. These can also be a bit complicated and will need the expert tax advice a professional can provide. I can help you structure and strategize how to employ these scenarios to your individual case.
If you have questions, let me know. You still have lots of time before year end to make a significant move in helping one of your favorite charities.