CHARITABLE GIVING
There is much power to harness in charitable giving. By supporting different charities, you make an impact and a difference to an individual or to your community.
While charitable giving is an attractive method to reduce tax burdens, it should be executed scrupulously. There are many technicalities that revolve around charitable giving. For one, due to the changes in tax codes in 2017, all your donations must comply with the Tax Cuts and Jobs Act of 2017.
There are various tax-efficient options which you can consider looking into:
Donor-Advised Funds
This allows donors to make irrevocable charity contributions from assets, cash, and stocks. As an investor, donor-advised funds will enable you to receive immediate tax deductions after donating.
Donor-advised fund is one of the most popular planned giving methods. If you are concerned with your taxes, this may be a solution to consider. The earnings in this giving vehicle are tax-free. You may use it to make subsequent donations. In your estate planning program and it lightens your tax burden while promoting a culture of giving.
Bunching
We advise our investors to consolidate tax-deductible contributions in such a way that would double charitable deductions in a year and limit donations in the subsequent year. Since this is a sophisticated but smart strategy, We aim to offer only the best advice on how to execute this strategy.
With the above strategies at hand, we can help you bunch charitable donations to minimize your tax burden. Please feel free to reach and consult with our planning giving professional, who will help you guide you through the charitable giving process.
By choosing our services, you will be gearing towards a goal orientated charitable giving. Our advisors offer tailor-made solutions that fit your estate’s requirements. They advise clients on how to open donation funds that minimize taxes. With many charitable options available, it is a challenge to choose the best one for your estate without any professional guidance. However, our philanthropic giving professionals will help you through the process in order for it to be a smooth and pleasant experience for you.
ESTATE PLANNING SERVICES
Explore our comprehensive estate planning services that fit your unique personal needs and circumstances.
We put significant fundamental research work to choose the right investment opportunities for our clients.
At any time, you can review your portfolio, request changes, or get more involved with how your funds are managed.
By working with Pence Wealth Management, you can address that your assets allocation is working for you, not against you.
We will work towards your portfolio in being properly diversified, enabling your portfolio to pursue growth
Request An Appointment
At Pence Wealth, we believe that good financial decisions don’t have to be confusing.
If you have any questions or want to schedule a complimentary meeting to discuss your specific questions, please do not hesitate to contact us.
OUR INSIGHTS
Providing resources which cover topics from financial planning to investment clarity.
Pence Perspective: So, What? with Dryden Pence – Feb 2024
Pence Perspective: So, What? with Dryden Pence [...]
An Egyptian Immigrant And ‘Tax Whisperer’ Who Built A $1.7 Billion Firm
An Egyptian Immigrant And ‘Tax Whisperer’ Who [...]
Pence Perspective: Inflation and Recession – So, What?
Pence Perspective: Inflation and Recession – So, [...]
Pence Perspective Newsletter – Q2 2023
Bottom Line Up Front The combination of [...]
“So, What?” with Dryden Pence – Episode 2
Dryden Pence takes a deeper look into [...]
Bonds ‘Legitimate and Meaningful Alternative’ to Build Income
Bonds ‘Legitimate and Meaningful Alternative’ to Build [...]
SUBSCRIBE TO OUR EVENT UPDATES
Our events create an opportunity for you to get to know us and our process. If you have some challenges, please join one of our events to get your questions answered. If you’re interested, please subscribe and we’ll keep you updated on our upcoming scheduled events.
