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Charitable Gift Transfer Charles Schwab Client Center  Form

Charitable Gift Transfer Charles Schwab Client Center Form

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[Music] getting a tax deduction probably isn't the primary reason you give to charity but being tax smart with your giving can maximize your contributions along with your tax benefits if you are itemizing your deductions as opposed to taking the standard deduction here are three strategies you can use for charitable giving first a giving strategy called bunching were you group two or three years worth of your planned charitable donations into one year boosting your itemized deductions over the standard deductions limit for that year in the years that you Bunch your donations you can itemize and claim the charitable deduction then in alternate years you take the standard deduction the second tax smart strategy is donating appreciated assets selling appreciated stock generates a taxable gain but donating appreciated stocks directly to charity gives you a tax deduction for the fair market value of those stocks you can use this strategy to deduct up to 30 percent of your adjusted gross inc

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