Expecting a Lower Future Tax Rate? This 2017 Planning Opportunity May be Right for You

Year End Tax Planning Strategies Withum

The pending Tax Cuts and Jobs Act could represent the largest overhaul to the tax code in three decades, potentially benefiting many Americans. Depending on your personal tax situation accelerating charitable deductions before year end may make sense. For those that are charitably inclined, a Donor Advised Fund could be something to consider.

When you fund a Donor Advised Fund you receive a current year tax deduction in exchange for setting aside money for future donations. Front loading future donations before your tax rate is lowered can help make the most of your charitable giving. If you plan on creating or making a contribution to a Donor Advised Fund in 2017, you should act promptly. The custodians set internal deadlines prior to year-end to allow for processing. Anyone looking to learn more about the potential benefits of Donor Advised Funds should contact a Withum Wealth Advisor.

More On Donor Advised Funds

As with all things tax related, we encourage you to reach out to your accountant and advisor before making any changes to current year end planning

Ryan Fause

Featured Author: Ryan Fause

Important Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Withum Wealth Management. [“WWM”] ), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from WWM. Please remember to contact WWM in writing, if there are any changes in your personal/ financial situation or investment objectives for the purpose of reviewing/evaluating/ revising our previous recommendations and/or services. WWM is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the WWM current written disclosure statement discussing our advisory services and fees is available for review upon request.

Withum Wealth Management offers integrated investment management and financial advisory services to affluent individuals, families, and businesses. Click here to learn more