A Tax Strategy You Never Knew Existed- Season 1: Episode 8
A few episodes back, we talked about the benefits of charitable giving for both the recipient of the gift and the giver. The one who receives the gift gets the benefit of the gift itself. The one who gives the gift may be entitled to (among other things) a tax benefit for their generosity.
Some people, though, for a variety of reasons, aren’t able to deduct what they give to charity — at least not directly. How can someone who doesn’t qualify for a charitable tax deduction potentially receive a “de facto” deduction for their donations anyway? And how can this strategy potentially limit other taxes they may have otherwise paid?
Find out on this week’s episode of Managing Your Financial Future.