Good Financial Reads: All About Charitable Giving

0
207
Good Financial Reads: All About Charitable Giving

Good Financial Reads: All About Charitable Giving

Consider Using a Donor Advised Fund

by Joe Morgan, Best Financial Life

If you regularly give to charity and have income that fluctuates, I’m going to show you something that is going to save you money. As I’m sure you know, your charitable contributions are deductible from your income for tax purposes.

So, if you give $10,000 per year, you get to reduce your taxable income by $10,000 each year. However, it’s possible that your income may not be as predictable. If you sometimes have years with much higher income than others, I’m going to show you how to save money on taxes by using a donor advised fund.

Source : https://blog.xyplanningnetwork.com/consumer-blog/good-financial-reads-all-about-charitable-giving