December 31st is the last day to donate for 2024 tax deductions; consider increasing your charitable giving to lower your taxes. You can make your money work harder for good with smart and simple financial strategies. In fact, you may find that you can increase your giving by 20 percent or more—without feeling it in your bank account. Try setting funds aside for giving so it is a part of your budget. You may also make use of smart giving strategies such as:

• Donating stock or other appreciated assets
• “Bunching” your charitable donations
• Going beyond traditional charitable giving and trying out impact investing
• Using a charitable giving vehicle like a donor-advised fund
• Qualified Charitable Distribution- if you’re required to take a Required Minimum Distribution (RMD) you may donate and make that RMD tax free.

Take some time to research the options and speak to your tax advisor to see if you can make your giving dollars stretch further.

For more information on how to make the most of your End of Year Giving, call 860-442-9454 x4107 or email development@waterfordcs.org.

Thank you!