Many people give to charities at the end of the year in a mad scramble that ends up leaving tax benefits on the table — there’s a better way. Here are three beginning-of-the-year tips to benefit your causes and cut your taxes too.
When it comes to tax planning, there are few more emotionally charged decisions than those around charitable giving. People tend to have deep, personal attachments to the causes they support and may have been donating to their chosen charity for years or even decades. They see their donations as a vital way to give back to society and to feel connected to a broader community, whether it be on a local, national or even spiritual level.