Giving Tuesday.
2017 may be a record-breaking year for philanthropy, and we all have an opportunity to be part of it.
Three factors make now an ideal time to support the causes that matter most to you.
First, the improving economy and strong markets have generated significant appreciation in investment assets. Appreciated assets make tax-smart donations that can offset higher tax bills and leave you with up to 20% more for charitable giving.
Second, tax reform is a priority for both the White House and Congress this year. While the charitable deduction is likely to be protected, lower income or capital gains tax rates might reduce the tax benefits of charitable giving in future years.
By giving this year, you could realize the existing, significant tax benefits of charitable giving before the rules change.
The third reason to embrace charitable giving this year is to support the series of devastating tragedies we’ve had recently in the U.S. and abroad. While many of you have already funded relief efforts, recovery takes years, and victims will need more support to cope with the scale of their losses.
This year, increasing charitable giving could be a tax-smart choice that helps maximize your impact when and where it is needed most.