ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 50: Strategies To Reduce Your Taxes While Supercharging Charitable Donations

In preparing taxes for our clients, we find 9 out of 10 ER Docs donate, in some form, to charity. And statistics support that claim. But the traditional way of writing a check to a charity or two you believe in likely isn’t the best way to give. More creative ways exist – ones that not only can benefit you better tax-wise, but that can result in the charity receiving more money than they would have otherwise received. A true win-win. 

In this episode, we highlight some of these creative strategies so you can feel confident with the philanthropic route you take.


Topics Discussed:     
  • What year donations were the lowest in the past 20 years. 
  • Which state has the highest concentration of religion.
  • The two main charity types in which you can give.
  • The importance of understanding where you’re investing your money.
  • What tax bunching is.
  • The benefit of planning where your money is going in order to stretch your dollar out.
  • Advice on rebalancing your portfolio.
Resources Mentioned:

ERdocadvisor.com  

Tags

planning, financial planning, ER doctor, doctors, charity, charitable, philanthropic, taxes, finances, savings

by 
Scott Wisniewski, EA