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The traditional method of giving revolves around cash. We swipe credit cards, write checks, and if it involves a complex asset, like a business or real estate interest, we sell it and then give from the proceeds.
However, there is a better way that not only could save taxes but also increase the gift to charity. This illustration tool will help provide a general scenario of the difference that can occur when you give assets before the sale versus selling the asset and giving from the proceeds.
Each situation is unique, so we encourage you to reach out to us to discuss your specific situation. Our team is ready to serve you and your advisors to help accomplish your charitable goals.