According the Giving USA 2024: Annual Report on Philanthropy, individuals in the United States gave over $374 billion to charity in 2023. Beyond the intrinsic reward of helping others, charitable giving also offers substantial tax benefits if it is approached strategically.

While most individuals choose to simply give to charity via cash, check, or credit card, these options are typically the least tax efficient.

In this month’s podcast we are discussing how various charitable giving strategies such as giving appreciated stock, bunching charitable contributions, making qualified charitable distributions, and utilizing the North Dakota qualified endowment tax credit can significantly increase the tax savings individuals receive from their charitable gifts.

If you are interested in learning more about tax-smart ways of giving to charity, we think you’ll enjoy this episode. Thanks for listening!

For more details on tax smart charitable giving, check out our blog post covering the same topic at https://pw-wm.com/learn/tax-planning/tax-smart-charitable-giving-strategies/