Flash Report - Charitable Giving, the Tax-Wise Way

Americans—especially the affluent—are some of the most charitable people in the world. Chances are, you use some of your wealth to support favorite causes or organizations that are important to you.

But those contributions may not be having as big an impact as they could—and it’s possible you’re missing out on some valuable charitable tax benefits that could help both you and your favorite charities.

Here’s how to size up the effectiveness of your giving—along with some strategies that could potentially put some real power behind your philanthropy.

The state of affluent giving

A full 74 percent of the affluent say they make significant charitable contributions every year, according to an AES Nation survey of affluent individuals with investable assets of $500,000 or more. That strongly suggests the affluent are both willing and able to support causes they care about.

Unfortunately, few of those surveyed donors are using tax-efficient strategies as part of their annual giving efforts. In fact, as seen in the exhibit, only about one in five is doing more than writing checks to charitable organizations each year.

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Charitable Giving, the Tax-Wise Way

Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is licensed as an investment adviser with the State of Colorado Division of Securities, and its investment advisory representatives are licensed by the State of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. It does not constitute investment or tax advice. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.

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