Personal Finance
TAKE ADVANTAGE OF TAX DEDUCTIBLE GIFTS
- Donate appreciated stocks or mutual funds to favorite charity
- Must have held for at least one year
- Make bequests during your lifetime
- Give up to $14,000 per person to as many people as you like without filing a gift-tax return
- Max out 401(k) plan
ASSESS YOUR RISK TOLERANCE WITH A FINANCIAL ADVISOR
- Determine the rate of return needed to reach your life’s goals
- Ask yourself how much you can afford to lose over the course of any given year and reach those goals
- Understand your emotional tolerance for risk
RESOLVE TO BE A MORE EFFECTIVE GIVER THIS YEAR
Combine head and heart
Get to know:
- organization
- leadership
- programs
Ask for:
- Strategic plan
- Annual reports
- 990 IRS form
IDENTIFY SOME TAX AVOIDANCE STRATEGIES TO BOOST YOUR INVESTMENT RETURNS
Tax avoidance strategies include:
- Re-visit municipal bonds
- Put higher tax investments in tax deferred accounts
- Emphasize tax efficient strategies including: index funds, ETFs, and individual stocks
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