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

October 27, 2021

By

Scott Wisniewski, EA

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

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Tags

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

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EP 204: Your Identity Was Likely Stolen: What You Should Do

by

Scott Wisniewski, EA