The Long Game Maximizing Your Charitable Impact: From DAFs to Private Foundations w/ Blake McKibbin
Dec 13, 2024
Blake McKibbin, an expert in charitable giving strategies, dives into the intricate world of philanthropy. He discusses recent tax law changes that affect charitable contributions and explains the benefits of donor advised funds versus private foundations. Listeners will learn how to 'bunch' gifts to maximize tax deductions and the intricacies of charitable remainder trusts. McKibbin also offers valuable strategies for business owners, ensuring that every philanthropic effort aligns with personal values and financial advantages.
AI Snips
Chapters
Transcript
Episode notes
Charitable Giving and Taxes
- Many Americans donate to charity, but most don't get tax benefits due to the increased standard deduction.
- Bunching donations into a DAF can maximize tax benefits.
Using DAFs for Bunching
- Use a Donor Advised Fund (DAF) to "bunch" charitable gifts for maximum tax benefits.
- This allows you to deduct several years' worth of donations at once.
Donating Business Interests
- Business owners can donate part of their business before a sale to avoid capital gains taxes.
- Make sure to do this before the Letter of Intent (LOI).