Welcome back to the Dollar Wise Podcast. In this episode, Jason Gabrieli, CFP, is joined by Andrew Barhardt, CFP, to explore how charitable contributions can be optimized for tax efficiency. They discuss practical strategies such as donor-advised funds, gifting appreciated stock, and estate planning techniques to ensure your generosity also leads to tax benefits. Whether you're navigating a high-income year or planning your legacy, this episode offers valuable insights to help you give wisely.

Tune into this episode to also learn:

● How donor-advised funds can provide flexibility and immediate tax deductions.

● The benefits of gifting appreciated stock to eliminate capital gains taxes.

● When charitable remainder trusts (CRTs) are appropriate for advanced planning.

● Why designating charities as IRA beneficiaries can be a smart estate strategy.

What we discussed

● [00:00:06] Why many charitable contributions don't provide tax benefits under current standard deduction rules.

● [00:02:45] Introduction to donor-advised funds and how they work.

● [00:05:29] When donor-advised funds are most advantageous, especially in high-income years.

● [00:07:12] How deduction bunching can help maximize tax deductions.

● [00:11:37] Gifting appreciated stock to avoid capital gains taxes.

● [00:14:00] Overview of advanced charitable trusts like CRATs and CRUTs.

● [00:17:03] The best assets to leave to charity versus heirs in estate planning.

● [00:18:26] The importance of tax-efficient charitable giving both during life and after death.

3 Things To Remember

1. Donor-advised funds offer a flexible way to manage charitable giving while optimizing tax deductions.

2. Gifting appreciated assets can eliminate capital gains taxes and enhance the impact of your donations.

3. Strategic estate planning ensures that both your heirs and charities benefit in the most tax-efficient manner.

Useful Links

Connect with Jason Gabrieli: https://www.linkedin.com/in/jasongabrieli

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