Charitable Giving

Today we’re finishing up our series on wealth management.  In previous weeks, we’ve highlighted wealth preservation, wealth enhancement, wealth transfer, and wealth protection.  We’ll now shift our attention to charitable giving.

Charitable giving is an often overlooked area of wealth management. It empowers you to support your values and make a lasting impact on local communities, the nation, and even the world. It can bring great fulfillment by helping you find your purpose and leave a legacy. Charitable giving, however, should be the last step in the wealth management process. First make sure that your wealth is managed efficiently and protected against risk to accomplish your financial goals.

We recommend reviewing your charitable giving plan regularly. There are strategies that may save on taxes while still supporting your favorite causes. Instead of cash or checks, consider giving highly appreciated stock and other assets to avoid capital gains taxes while still snagging a tax deduction. Those over age 70 ½ can donate up to $100,000 each year from their IRAs, 401(k)s, and other qualified retirement accounts to meet required minimum distributions and avoid paying ordinary income taxes on the distributions. Some complex asserts, such as closely held stock and real estate, can also be donated directly to charity or through a Donor-Advised Fund.

While some individuals regularly give to various charities, others would like to give but are unsure of which causes to support. To get started deciding which kinds of charities to add to your donation list, we recommend asking these questions:

  • What do you want more of in the world?
  • What do you want less of in the world?
  • What do you want to see sustained for your children and grandchildren?


Stratos Wealth Partners and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.