10. Give a Tax-deductible Charitable Contribution
As you are thinking about giving this season, now is a good time to donate to a cause you believe in and be able to benefit from the donation on your 2019 taxes. It’s especially advantageous to donate appreciated securities because you avoid having to pay taxes on the gains. Just remember, though, that a tax deduction is going to save you only a fraction of the total amount you donate. So, in making that charitable contribution, do it because you really want to support the cause and not just for the potential tax write-off. Giving directly to causes is also deemed a good alternative for those wrestling with whether to pursue a socially responsible investing strategy.
So there you have it, part 2 of my 2019 Year Checklist to help with your 2020 Lifestyle Success! It’s been a privilege to provide tips and ideas this year but stay tuned for Chew’s Views in 2020.
Merry Christmas and Happy New Year! For help or questions on this month’s tips contact us at [email protected] ,
www.1stcig.com, 312-243-3906/Office,.