Consider this strategy to increase your 2018 tax savings.

This is the year to find new charitable giving opportunities created by the Tax Cuts and Jobs Act. Starting this year fewer donors will receive a tax benefit for carrying out their charitable intent because deductions have nearly doubled for both individuals ($12,000) and couples ($24,000) and deductibility of state and local taxes is limited to $10,000.

The Planned Giving Council of the Southwest Florida Women’s Foundation recommends a strategy to ‘bunch’ your charitable gifts in a single year. This allows you to exceed the higher standard deductions. By donating several years’ worth of cash or appreciated stock to the Donor Advised Fund offered by the Southwest Florida Women’s Foundation in a single year, you realize the full tax benefits of your giving and the charities of your choice receive gifts from your Donor Advised Fund over multiple years.

The members of our Planned Giving Council want to ensure that you have the best strategies to maximize your charitable impact and associated tax benefits. Please feel free to call on me or any of our Council members to discuss your specific interests, questions or goals related to making a planned gift to the Southwest Florida Women’s Foundation.

Lisa M. Simington, CFP®
President – Florida West Coast
BNY MELLON WEALTH MANAGEMENT and Southwest Florida Women’s Foundation Board Member


Leave a Comment: