Nov 20, 2024

Year-End Charitable Giving and Tax-Wise Planning Tips From The Foundation

With the end of 2024 just a few weeks away, now is the time to consider some tax-wise charitable giving strategies. It’s not too late to make an impactful donation that benefits our Jewish community now and for years to come. There are many tax-smart ways to do so before year-end including: Gifts of appreciated assets (stocks) to receive a tax deduction for the full fair market value of the assets while avoiding paying capital gains tax; creating or adding to a Donor-Advised Fund, which is like a philanthropic checking account to manage your charitable giving now and over time; utilizing the IRA Charitable Rollover if you are 70 1/2 or older to transfer up to $105,000 to Federation tax-free; or Donating appreciated real estate to avoid capital gains tax on the sale and receive a charitable income tax deduction. Click here to read more details. To discuss these and other charitable giving strategies, contact Scott Kaplan, The Foundation Director, at [email protected] or 786.866.8623 or consult your tax and financial advisors.