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Strategies & Market Trends : Young and Older Folk Portfolio
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cemanuel
Markbn
vicki kiyay
To: vicki kiyay who wrote (7827)8/10/2024 8:34:19 AM
From: SeeksQuality3 Recommendations   of 23564
 
We've had one for close to a decade now. No mortgage, so with the SALT limitation in the current tax law, and less than $15k annual charitable contributions, we would normally still be under the standard deduction. Instead we can bunch $50k to $60k contributions in a single lump sum and deduct most of that. Be aware of the IRS limit on deducting appreciated securities.

Additionally, we use this to clear capital gains from our taxable account. A $50k contribution might include $20k principal and $30k capital gains that would otherwise have been taxed.

Our fund is through Fidelity. The gifting process is pretty smooth, and most charities are signed up for direct deposit. (The others receive a paper check.) We have one donation on quarterly auto, processing the rest once a year. It takes me an hour, mybe, but most of that is doing the bookkeeping on my end. The actual entry through the Fidelity page is very quick.

There are a few index-based options for investing the funds. You cannot hold individual stocks within the charitable trust, they get sold and directed to whichever fund you select.

Can be a little trickier to participate in a fund drive or to get swag from the charities, but if there is something you want you can always just call and ask.
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