Giving is as easy as 1) making a charitable gift, and 2) saving taxes. We’d like to make it even easier with this primer on some of the best ways to save – and give.
The tax laws intentionally encourage charitable giving. Because of the income tax charitable deduction, individuals who make their gifts by December 31 and itemize can significantly reduce their income taxes for 2013.
Example: If you make a charitable gift of $10,000 in 2013, you save $3,300 in taxes if you are in the 33% tax bracket. And the higher your tax bracket, the more money you save with a charitable gift.
Giving, of course, is much more than tax brackets and charitable deductions. Philanthropy provides the opportunity for you to really make a meaningful difference for the causes about which you re passionate. Orient Land Trust is here to help you fulfill your philanthropic goals.
The ways of giving listed below are only a brief introduction to some of the best tax-advantaged methods of giving. We would be pleased to provide you with further information. Also, we urge you to discuss your 2013 year-end tax planning with your accountant or other professional advisor.