Helping Yourself Through Charitable Giving – Season 1: Episode 6

Most people at some time or another want to be charitable. Part of human nature tells us we should give to those in need—that we have a kind of social obligation to allow others to have something that they could otherwise only dream of. This is why being charitable often gives us a nice, warm feeling.

That’s the emotional side of giving. On the practical side, there can be financial rewards and incentives that go along with it too; tax breaks, in particular. But who gets those tax breaks? Can anyone who donates money write off that donation? There’s a gift tax – but who, if anyone, pays it? Are there ways to give later but get the tax breaks now?

All good questions.  Get the answers on this week’s episode of Managing Your Financial Future.

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