Hi everyone, this is Mark Burgdorf from Burgdorf Wealth Managers. The end of the year is a great time to pause and think about your charitable giving strategy. This includes not just how much you give, but how you give.
Whether you give to your church, a local organization, or a global cause, charitable giving can be one of the most meaningful ways to make an impact. Plus, it can be tax-efficient*.
Here are three methods to consider incorporating into your charitable giving strategy before December 31st:
1 - Appreciated Assets. Donating stocks or investments that have grown in value can help you avoid capital gains taxes while supporting a cause you care about.
2 - Qualified Charitable Distributions. If you’re 70½ or older, you can give directly from your IRA to a qualified charity. That amount will count toward your required minimum distribution.
3 - Donor-Advised Funds**. These allow you to make a charitable contribution now and decide later which organizations to support, giving you flexibility and time to be intentional with your giving.
No matter which method you choose, the key is to plan early. Charitable organizations often have year-end deadlines for processing donations.
At Burgdorf Wealth Managers, we believe intentional giving makes the biggest impact. Your generosity can make a difference both locally, through organizations like Helping Hands Midwest, and globally, through causes that reflect your values.
And while you’re focusing on giving, don’t forget to protect yourself. Unfortunately, data breaches happen every day. Especially during the busy holiday season, when scammers target online donors.
That’s why we offer Carefull, a platform designed to help safeguard your finances, monitor for suspicious activity, and keep your private information secure. Protecting your accounts and personal data is another important way to be a good steward for yourself and your family.
If you’d like help reviewing your charitable giving strategy or setting up Carefull to better protect your financial life, our team is here for you.
We’re grateful for the opportunity to serve you and to give back together.
**Donor Advised Funds:
Generally, a donor advised fund is a separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization. Each account is composed of contributions made by individual donors. Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor’s representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account. Donors take a tax deduction for all contributions at the time they are made, even though the money may not be dispersed to a charity until much later.
*Tax and Legal:
Cetera Advisors LLC exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice.
Registered Representatives offering securities through Cetera Advisors LLC, a registered broker-dealer, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC, a registered investment adviser. Cetera firms are under separate ownership from any other named entity. 6001 Old Collinsville Rd Building 2, Suite A, Fairview Heights, IL 62208