Using Qualified Charitable Distributions to Get a Triple Tax Benefit
If you have financial legacy goals, you’ll want to consider how taxes affect the impact of that legacy, because every dollar you pay in taxes is one less dollar that can be used for legacy giving to support the people and causes you care about. One of the most strategic tax planning options to help […]
How to Leverage the Tax Benefits of Your HSA
For those of us with financial legacy goals, it’s easy to focus on accruing wealth surplus (i.e. the amount of accumulated wealth over and above that needed for retirement spending needs) through increasing our income or going with a more aggressive asset allocation that provides a higher rate of return over time. When your financial […]
Employer Charitable Matching Programs Can Supersize Your Giving
Employer charitable matching programs can maximize the power of every dollar you donate – but these programs often go overlooked. At Charis Legacy Partners, our charitable legacy planning involves creating a comprehensive financial plan that includes thoughtful strategies for taxes, estate planning, investment management, and cash flow, but we also try not to overlook the […]
Maximizing Retirement Contributions for Legacy Giving
Maximizing retirement contributions is a great way to increase your lifetime legacy giving – here’s how to do it. If you’ve spent much time on this blog, or are a client of Charis Legacy Partners, you’ve likely heard me talk about laying the foundation for maximizing lifetime giving through increasing the legacy giving return on […]
Can “Charitable Bunching” Lower Your Taxes?
Charitable bunching, AKA charitable clumping, may provide a more tax-efficient way for charitable-minded folks to donate to their favorite charities, but it’s not for everyone. Since we file taxes annually, we often think about our finances in annual terms – our income, our deductions, our charitable giving, etc. The problem is that if we completely […]
When Donating Stock May Be The Way To Go
Cash is often the go to option for charitable giving, but by donating appreciated stock instead, you may get more bang for your buck. Creating a legacy is all about strategic financial planning, and that applies whether your goals are to provide support for charities, heirs, or a combination of both. The struggle for many […]
Year-end tax planning
Today’s blog post comes to us courtesy of Sean Mullaney over at The FI Tax Guy It’s time to think about year-end tax planning. Year-end is a great time to get tax planning ducks in a row and take advantage of opportunities. Remember, the below is for educational purposes only, and none of it is […]