With recent news almost totally focused on the 2018 hurricane season and catfights between Democrats and Republicans, we’d like to share a bit of good news about the state of charitable giving and remind our friends that we are barreling toward another tax season.
Regardless of our political distractions, we’re still a generous, big-hearted country when it comes to individual giving. It seems that we as a country are on track for a slightly higher percentage increase in 2018 than last year—a banner year for charitable giving. As individuals, we give about 70% of all charitable donations in the U.S. with the balance coming from estates, foundations, and corporations.
The passage of tax reform legislation could change the landscape of charitable giving for some households, but the majority of our clients have benefited from a booming stock market and are enthusiastic about exploring meaningful charitable giving opportunities.
Donor-Advised Funds, where donors receive an immediate tax benefit and can make suggestions about where the money goes, is the #1 rising trend. Now is the time to get in touch with us about adding to, or participating in, donor-advised funds for this tax year.
As always, let the real meaning of “stewardship” remain the driving force for your charity and reason for giving.