At Provident Financial Advisors, we have a profound respect for those individuals who seek to better society by giving to charitable institutions. We encourage those who have the desire and financial ability to give to good causes. If you are one of these people, we would also like to help you maximize your ability to give by taking advantage of the many tax benefits available to you.

You probably already know that you receive a tax deduction for charitable donations; however, you may be unaware of charitable giving strategies that will help you maximize these tax benefits. If you contribute investments such as stock and bonds that have appreciated in value, not only do you get the possible tax deductions but you may also be able to avoid paying taxes on the gains of your investment.

You may also consider setting up your own charitable foundation or giving account to better accommodate the process of giving to your favorite charities.

Maximizing tax benefits will allow you to conserve cash flow or, better yet, increase the amount of your contributions. So before you write out that next check, give us a call to discuss how you can increase your tax benefits while contributing to your favorite charity.


 

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