SYM logo

Charitable Giving

Gifting Appreciated Securities – Optimizing Your Charitable Gifts

Most Americans are familiar with the radio and television ads that appeal for donations of unneeded cars, boats, or real estate. Though the process seems quite simple, those who attempt such a donation know it’s not always as straightforward as it seems. Securities, however, can be gifted with relative ease and have significant advantages. The simplest way to donate to charity is to write a check or to drop some bills into a collection basket.

Read More »

Gifting Within Your Family

While gifting within your family can be an effective method for wealth transfer, it’s important to remember that federal tax law regulates your generosity. Specific rules come into play when gift giving, even to those you may be legally required to support (such as a child). To avoid subjecting yourself to unnecessary scrutiny as a taxpayer, or worse paying additional taxes or penalties, read on.   Following gifting guidelines As individuals we are only allowed to

Read More »

Intentional Charitable Giving – What’s your Plan?

For many, charitable giving goes beyond the occasional donation of outgrown clothes or household items and becomes a lifelong mission.  However, as with everything else, winning requires planning. The positive impact of your charitable dollars is highly dependent on a winning strategy. To take your charitable giving to the next level this year, consider these mechanisms. The Charitable Remainder Trust – This neat tool allows you to gift cash, stock, or property to the trust

Read More »

Protect your Charitable Deductions at Tax Time

Charitably-minded investors have a new priority to shoulder: protecting their charitable tax deductions. Since the Tax Cuts and Jobs Act of 2017 did not directly address donation deductibility, few realized the new law could directly impact the tax treatment of their giving. The legislation increased the standard deduction to $12,200 for single taxpayers and $24,400 for those married filing jointly in 2019. Since the new tax law also imposed limits to other popular itemized deductions

Read More »

Family Foundation or Donor-Advised Fund?

Charitable giving seems to be part of some people’s DNA. For clients looking for a way to leave a legacy or limit generational wealth transfer, though, the decision between founding a family foundation and opening a donor-advised fund can be difficult. Donor-advised funds Donor-advised funds are administered by local area foundations or through traditional custodians such as Charles Schwab and Fidelity.  These accounts provide the owner with a great deal of flexibility and anonymity if

Read More »

How can we help?

This field is for validation purposes and should be left unchanged.