慈善捐赠的战略思考

Private WealthManagementwilliamblair.com Thinking Strategically AboutCharitable Giving Using charitable giving strategies to enhance the tax-efficiency of yourdonations plays a vital role in maximizing the impact of your gifts. Introduction Introduction Using charitable giving strategies to enhance the tax-efficiency of your donations plays avital role in maximizing the impact of your gifts. Enhancing the impact that you and your family can have in supporting causes near to yourhearts also requires more than just generosity and good intentions. It takes careful planningand an in-depth understanding of the various vehicles that can be used to facilitate yourcharitable gifts and the tax laws related to those gifts. Just as no two families’ philanthropic legacies are identical, the strategies used to achievethese legacies should be carefully crafted to each family’s unique set of goals, resources,time frame, and tax considerations. These strategies must also be designed as an integratedpiece of the family’s comprehensive wealth-management plan. Developing your philanthropic strategy requires answering four primary questions: 1.How much do you want to give?2.Which assets should you contribute?3.What causes do you care about?4.Which charitable giving vehicle(s) will be the most effective and tax-efficient inachieving your goals? Navigating an Evolving Tax Landscape “The passage of the OBBBA hasreshaped several tax provisionsoriginally introduced by the 2017Tax Cuts and Jobs Act (TCJA).” Navigating an Evolving Tax LandscapeTaxes in all their forms—ordinary income, capital gains, and wealth transfer—play a large role in determining theright charitable gifting strategy for many investors. Partof the challenge in developing a tax-efficient charitablegifting strategy is that tax laws change periodically andanticipating these changes can be extremely difficult. Over the past several years, there have been a host ofsignificant tax law changes that directly or indirectlyinfluence charitable planning. These include: •The passage of the OBBBA has reshaped several taxprovisions originally introduced by the 2017 Tax Cutsand Jobs Act (TCJA). The standard deduction remainselevated and now adjusts annually for inflation, makingit a continued incentive for taxpayers to considerstrategic timing of charitable contributions. One suchstrategy known as “bunching”involves consolidatingmultiple years of donations into a single tax year tomaximize itemized deductions, while claiming thestandard deduction in other years. The Pease limitation,which previously reduced the value of itemizeddeductions for high earners, remains repealed. Thefederal estate tax exemption has also been permanentlyincreased to $15 million per person, indexed forinflation. •The SECURE Act raised the age at which you must starttaking required minimum distribution (RMDs) fromtax-deferred retirement accounts, but left the QCD ageat 70 ½. The fluidity and unpredictability of tax laws highlight theimportance of maintaining an ongoing dialogue with yourwealth advisor. In some situations, individuals may be well-served to implement strategies before proposed changesare enacted. In other situations, the unpredictability ofwhat changes will come to fruition highlights the value ofmaintaining flexibility. Navigating an Evolving Tax Landscape(continued) CASE STUDY1 Bunching Charitable Gifts CanMaximize Tax Savings For taxpayers who are looking to make large gifts, it maybe beneficial to concentrate the donations in a single year,as opposed to spreading them over multiple years. A family that is looking to contribute a total of $150,000might typically spread those gifts evenly over three years,which would enable them to claim itemized deductionstotaling $180,000 over that span. This total represents$50,000 of charitable deductions per year in addition to$10,000 in annual state and local tax (SALT) deductions. Or, they could make the full $150,000 gift in year 1 plusclaim the annual SALT deduction ($10,000 per year), andthen take the standard deduction ($31,500 per year in2025 for married filers under age 65) in years 2 and 3. Thisapproach would result in total deductions of $223,000 overthose three years. Deciding How Much to Give Deciding how to prioritize between philanthropicand wealth-transfer goals is a deeply personal decision,and there is no one right way to make this decision. Itis important to realize, however, that these decisionsshould not be made in a vacuum. In a carefully craftedwealth-management strategy, the lifestyle, philanthropic,and wealth-transfer goals are all working in concert andexecuted in a tax-efficient manner. Deciding How Much to Give The first, and in many ways most important, decision indeveloping a philanthropic strategy is to determine howmuch you will contribute to charities. At William Blair, wehelp our clients answer this question by thinking about“core” vs. “surplus” assets. Core assets represent theamount need