Kiplinger: “Six Charitable Giving Strategies: Feel Good and Cut Your Taxes”
Kiplinger, November 25, 2023 — Marguerita Cheng explains: “These strategies can help you spread the love even more to charities you trust while also taking advantage of different kinds of tax benefits.”
Millions of people give to charity to support various causes that have had a positive effect on their lives, their loved ones and their communities. According to the National Philanthropic Trust, Americans donated $499.33 billion in 2022.
Individuals formed the largest source of charitable giving, which amounted to $319.04 billion, representing 64% of the overall donations. Other donations included foundation giving, corporate and giving by bequest. Most of the charitable dollars went to religion, followed by education and human services, then grantmaking foundations, while the health sector took the least allocation.