W
ith fall upon us, it’s time to begin firming up your year-end charitable giving plans to ensure your goals are accomplished by the end of the 2021 tax year. While there are many factors to consider and keep an eye on this year—particularly with the likelihood of significant tax reform looming— thoughtful charitable planning remains imperative to ensure that your giving is completed as effectively and efficiently as possible for your favorite causes and charities. Fortunately, there are a number of opportunities available including some special charitable incentives to help you make the most of your giving this year and SEE MORE IMPACT. The following are some reminders and tips for you to keep in mind as you plan. As a rule, be sure to consult with your tax, financial, and other trusted advisors as you finalize your gift planning. There’s still time to act before December 31, but the sooner you do, the better. Gifts of certain types of appreciated assets require significant lead time and may not be possible to complete by year end if you wait too long to initiate them.
Lead Time Reminders for Year-End Gifts: • Cash, Check and Credit Card Gifts These gifts must be received by your favorite charities (or post-marked, if mailing checks) by Friday, December 31, to be counted for tax purposes in 2021. • Gifts of Appreciated Stock, Mutual Funds and IRA Qualified Charitable Contributions (QCDs) Gifts of appreciated stock can usually be completed within a few business days depending upon the charity and institution holding the shares, while gifts of mutual funds and IRA QCDs typically require up to two to three weeks. Contact the charity you intend to benefit for transfer instructions and speak with your wealth advisor or IRA administrator to begin making arrangements. • Gifts of Other Appreciated Assets Gifts of more complex appreciated
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