Send us a text

Giving Smarter: Innovative Paths to Charitable Giving – Jason Warner Tax Senior Associate

Charitable giving transcends simple generosity when approached strategically. In this enlightening conversation with tax senior associate Jason Warner, we uncover powerful charitable vehicles that can transform your giving impact while optimizing tax benefits.

Many donors default to writing checks to their favorite organizations without realizing there are more sophisticated options available. Jason walks us through four key charitable strategies that high-net-worth individuals and business owners should consider. Donor-advised funds offer flexibility and immediate tax deductions while allowing contributions to grow tax-free before distribution. Charitable remainder trusts provide income streams to donors while ultimately benefiting chosen charities. Charitable lead trusts work in reverse, benefiting charities first before transferring remaining assets to heirs—an excellent tool for multi-generational wealth planning.

For those over 70½, Qualified Charitable Distributions from IRAs present a straightforward yet powerful giving approach, allowing up to $108,000 in annual charitable gifts while satisfying Required Minimum Distributions without increasing taxable income. Jason highlights the significant advantage of donating appreciated assets rather than cash—the most common mistake donors make—which provides a double tax benefit through full-value deductions and avoiding capital gains tax.

Whether you're a high-net-worth individual looking to maximize philanthropic impact or a business owner seeking to integrate charitable giving into your tax strategy, this episode delivers practical insights for strategic philanthropy. Remember, success begins with knowing what counts. Ready to optimize your charitable giving strategy? Call 413-739-1800 to connect with our expert team today.

To learn more about MP CPAs visit:
https://thempgroupcpa.com/
MP CPAs
413-739-1800