PHILANTHROPIC GIFTING
Philanthropic gifting is personally rewarding and has tangible financial benefits. Sophisticated giving strategies allow you to reduce current income taxes and achieve greater control over the final transfer of your wealth by minimizing potential estate taxes.During high-income years, giving can help reduce federal and state income taxes through charitable deductions. Giving appreciated assets to a nonprofit organization can produce a significant charitable deduction while also eliminating the capital gains tax due if you sold the assets. Most Americans would prefer to have their accumulated wealth go to heirs and nonprofit organizations rather than to taxes. Reducing or eliminating estate taxes is a priority for many people. This is not surprising, given that estate taxes can claim as much as 50% of your total estate.
Commons Capital Advisors can help you implement giving strategies that will minimize potential estate taxes and channel your assets to the people and causes you care about most. Many life events can spur a re-examination of your total financial plan, including your giving strategy. Whatever your charitable goals are, putting a plan in place can help you make the most of your giving.
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