Appreciated Assets (Cash, Real Estate, or Other Investments)

If you’re selling a business, real estate interest or other highly appreciated assets, think about where philanthropy fits in — not only as an act of generosity, but as a tax-saving strategy.  Making your gift in advance of the sale may help you avoid capital gains taxes and get a larger tax deduction.

Donor-Advised Funds (DAF)

This is an ideal time to replenish your donor-advised fund or establish one. This can help you take advantage of bunching. “Bunching” can be accomplished, for example, by making your 2024 charitable contributions in 2023 to, potentially, get a larger itemized deduction in 2023, and then simply using the standard deduction in 2024.  This can help philanthropists in the $5,000-$25,000 range save thousands of dollars in taxes while maintaining the same amount of gifts between the two years. Other philanthropists can, similarly, pull forward several years of gifts through the use of their donor-advised fund at the Atlanta Jewish Foundation. Then you can distribute these funds to the charities of your choice, on your timetable.

IRA’s

If you are age 70 ½ or older, you can make an IRA charitable rollover, or a direct tax-free transfer of funds, from your IRA payable directly to a qualified charity.  This option is still available in 2023. It’s a fantastic use of your otherwise taxable IRA dollars.

Cash Gifts

You can deduct up to 60% of your adjusted gross income for your cash gift. Let the Atlanta Jewish Foundation walk you through it.

Estate Plan Review

With current, and potential, tax law changes, many people are looking at their estate plans to take maximum advantage of the current tax laws. This is an ideal time to incorporate philanthropy into your plan. We’re here to help you, and we can work directly with your advisor.