Julie Virta (Vanguard Personal Advisor Services): Tax-Efficient Tips for 2021’s Charitable Giving Season

Julie Virta, of Vanguard Personal Advisor Services, has made available for download her article, “Tax-Efficient Tips for 2021’s Charitable Giving Season.” The article begins as follows:

Spurred in part by the pandemic, a record $471 billion was donated to U.S. charities in 2020, according to Giving USA. I expect that trend to continue this year, as individuals, couples and families are inspired, perhaps more so than years prior, to make an impact on their communities and the causes they care about.

For those planning to contribute to charitable organizations this year, consider these strategies to make the most tax-efficient donation.

A check may not be the smartest gift

A common mistake I often see novice donors make is their preference to cut a check to a charity, assuming it’s the simplest and most effective route. Given the stock market’s solid 10-year run, donors may want to instead consider gifting appreciated securities, or concentrated positions if they are seeking to trim portfolio holdings.

To see the full article, click here: “Tax-Efficient Tips for 2021’s Charitable Giving Season.”

Posted by Bennett Mansour, Associate Editor, Wealth Strategies Journal.

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