Get Ahead of the Year-End RushDecember 2, 2023
Holidays and tax planning — although very different in the ways they are celebrated! — are both year-end traditions. No doubt you’ve got the holidays covered, and perhaps your clients are already reaching out to make sure their tax planning is in place. It’s a good idea to familiarize yourself with several important year-end charitable giving techniques and deadlines so you can be best prepared for conversations with clients, as well as the team at the Community Foundation. We stand ready to assist!
We’re here to support you in planning ahead for year-end giving. Unless noted, take action on these opportunities by December 8:
- Grant requests from advised funds and Charitable Checking AccountsSM to support your and your clients’ favorite charities.
- Complete the transfer of stock gifts and alert us so we can properly credit your or your clients’ account. Gifts of marketable securities also need to be fully transferred by December 31. Privacy rules prevent some brokers from identifying donors. Email StockProcessing@racf.org or call Andrew Muldoon at 585.341.4360 with the stock name and share count. We cannot accept shares of foreign stock after November 30 because their complexity makes it difficult to settle by year-end.
- Get your clients tax-advantaged income for life while making a significant gift to a permanent fund in the future with a charitable gift annuity (CGA). As with bunching, larger gifts may make itemizing worthwhile despite the higher standard deduction. As mentioned above, your clients can create a CGA with a QCD of up to $50,000.
- Mailed checks must be postmarked or hand delivered by December 31 to count in 2023. For an easy drop-off at our office, use the mail slot in the door of the “in” driveway.
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