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Five ways to maximize your clients' year-end giving


Before your clients ring in the new year, make sure they have maximized their charitable giving for 2020. Gifts made to a charitable fund by Dec. 31 will earn them a tax deduction for the current year while supporting the causes they love for many years to come.

Here are 5 tips for your clients to consider:

  1. Give Appreciated Stock: You'll receive a deduction for the fair market value and will also eliminate capital gains taxes. For the greatest impact, donate appreciated shares with a low cost basis. We recommend initiating stock transfers by Dec. 10 to ensure year-end processing.

  2. Give Retirement Assets: If you are 70 ½ or older, you can avoid paying taxes on distributions from your IRA by sending them directly to charity.

  3. Give in Someone's Honor: Donate in your loved one's honor in lieu of a holiday gift. You can show them you care while making a lasting difference in the community.

  4. Start a Charitable Fund: You'll get an immediate tax deduction and can take your time recommending grants to charities in 2021 and beyond. Akron Community Foundation offers a variety of fund types to meet your charitable needs. Funds can be started online with a credit card until 11:59 p.m. on Dec. 31 to count for the 2020 tax year.

  5. Talk to Your Advisors: Is a qualified charitable distribution from your IRA right for you? Or perhaps a gift of appreciated stock or property? Talk to your advisors about the most advantageous gifts for your situation.

To learn more, contact Laura Fink, senior director of development and advisor relations, at 330-436-5611 or

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