The holidays are approaching, and goodwill is in the air. American individuals, bequests, foundations and corporations gave an estimated $427.71 billion to U.S. charities in 2018, according to the Giving USA report.
Although donations are generally not motivated by tax savings, taxpayers can still maximize their tax benefits with some strategic planning. To help clients get the biggest bang for their buck, consider a few strategies, such as bundling charitable gifts, using a donor-advised fund and donating appreciated assets.