Holiday season is a great time of year to discuss philanthropic intent with your clients. This brings together the year-end planning opportunity to maximize tax deductions and the time of year to have purposeful conversations with family on causes that matter. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck share ideas to consider with your clients as the end of the year approaches, including:

A smarter way to give than writing checks
Using a Donor Advised Fund (DAF) to receive the charitable deduction while also giving breathing room to make decisions on where to give
Using charitable donation strategies to offset taxable income
Connecting the private foundation to a DAF to make the 5% annual requirement more effective
The philanthropic approach to minimizing tax on Roth conversions in a down market

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Chapter 5 on charitable giving in the Guide to Financial & Estate Planning
Analysis of a tax return for financial planning opportunities checklist (includes a section on charitable giving)
When a donor advised fund is right for your client
An example of a scholarship fund
How to direct a QCD that is an alternative to the DAF

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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Year-end charitable giving ideas {PFP Section}

AICPA Personal Financial Planning (PFP)