Dollars and Sense: How you and charitable beneficiaries can get the most out of your holiday donations
RENO, Nev. (KOLO) - The giving season is upon us. While you’ll probably be buying presents to put under the tree, you may also be intending to donate to your favorite charities, causes and non-profits. With the help of a financial advisor, you can make decisions that will benefit you and the group you support to the fullest.
Edward Jones financial advisor, Ashley Hicks, joined Katey Roshetko for this month’s “Dollars and Sense” segment on Morning Break.
She shared a recent case study conducted by Edward Jones that found the following:
- 68% of Americans say they’re planning to donate an amount similar to their 2021 donation despite the current economic uncertainty.
- 17% plan to give more.
- 10% planned to decrease their contribution.
Not many adults work with financial advisors when it comes to charitable giving, but those who do often feel more successful & excited about donating. Hicks shared various strategies you can use that might include different tax benefits when it comes to charitable giving. These charitable donation methods are not secrets and you don’t have to be wealthy to use this money hacks.
While you can donate money to various organizations, there are other ways individuals can give too. You can donate your time, cook a meal or giveaway assets. Should you choose to donate assets, working with a financial advisor can help you increase the value of your gift and gain greater tax benefits.
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