Giving starts with a cause you care about. But once you decide to give, another question follows: What is the most effective way to do it? Writing a check may be the simplest option, but it is not always the most effective.
In Episode 44 of The Decision Dividend, Pat Collins and Marcus Schafer continue their conversation on intentional philanthropy by exploring the financial-planning and tax considerations behind charitable giving.
- How to choose the right giving strategy based on your goals, tax situation, and stage of life.
- Ways to make charitable dollars go further, from appreciated investments and donor-advised funds to qualified charitable distributions.
- When advanced planning strategies may make sense for families focused on legacy, estate planning, and long-term impact.
The goal is not simply to reduce taxes. It is to coordinate your giving with your investments, income, estate plan, and the impact you want your charitable dollars to have.
If giving is part of your plan, this episode can help you understand the options and ask better questions before you act.
Chapters
00:00 From the “Why” to the “How” of Charitable Giving
01:43 Start with Your Financial Plan
03:10 The Real Financial Cost of Giving
06:13 Standard vs. Itemized Deductions
10:45 How New Tax Rules Affect Charitable Giving
12:19 Bunching Multiple Years of Charitable Giving
16:14 Why a Tax Projection Helps
17:30 Donating Appreciated Investments Instead of Cash
20:14 Resetting Cost Basis and Diversifying Your Portfolio
24:21 How Donor-Advised Funds Work
29:34 Qualified Charitable Distributions from an IRA
33:09 A Common QCD Tax-Reporting Mistake
36:27 Private Foundations
42:36 A New Deduction for Cash Gifts
43:19 Charitable Trusts
48:46 Putting the Charitable Giving Strategies Together
50:10 Giving Well Requires Planning
If you missed Episode 43, our conversation with the CEO of the Baltimore Community Foundation explores how to evaluate causes, nonprofits, and philanthropic impact before deciding where to give. Watch Episode 43: How to Give More Intentionally with Dr. Shanaysha Sauls
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Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. This material is not tax or legal advice. Consult qualified tax and legal professionals before implementing a charitable-giving strategy.
