Year-end contributions can offer a fantastic chance to aid causes you are passionate for while also lowering your tax liability. By offering tax-advantaged donations to qualified charities, you can possibly diminish your taxable earnings. Consult with a specialist to figure out the best tactics for your unique circumstances and leverage the tax ben

“It’s like acquiring a pension,” says Simasko. “They’ll fork out you a fixed, predictable income stream for the rest of your lifetime. Once you die, everything leftover stays Along with the charity.” the level of income depends on the charity, the dimensions of one's gift along with your age—the older you happen to be, the upper the p