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Charitable Giving – Irving, TX

Giving Back the Smart & Easy Way

Are you considering how you can incorporate charitable planning into your long-term financial plan? Choosing to give to those in need is an impactful way to share your success and selflessly contribute to someone else’s. However, knowing how much to give and how to do so in a tax-efficient manner can be difficult to identify. That’s where we come in. At Cadent Capital, our team is passionate about coming alongside our clients and creating a realistic path to achieving their goals, and charitable giving is a key component. Call us to schedule a consultation with a member of our team to learn how we take a calculated approach to determine your charitable giving strategy.

What Does Charitable Giving Mean to You?

Charitable giving looks different for every person. We encourage those with the desire to give to intentionally reflect on how they are best equipped to make an impact. This can include the giving of one’s money, time, or skillset. While one person might choose to support their charity of choice financially, another may volunteer their time, and another may use their talents or connections to benefit others. When it comes to financial giving, there are several creative options to consider that many are not aware of.

How Do I Make a Charitable Gift?

When choosing to make a substantial charitable gift, you may want to work with a wealth advisor who can explain and calculate the best solution to help ensure your money is used in the most impactful way. Not only are both your values and wishes heard and respected, but a knowledgeable advisor will bring in their experience with investments, taxes, and charitable transfers.

Significant charitable giving can generate tax benefits or even valuable income for you and your loved ones. Tax savings should not be the sole reason behind your desire to give, but if you are already planning to support charity, doing so in a tax efficient manner can lead to savings and other benefits.

What Are the Benefits?

While the positive feelings you experience in being able to help others is an important benefit to giving, there are other advantages depending on the type of charitable planning you and your wealth advisor at Cadent Capital, LLC agree upon:

  • Positively influence future generations
  • Lower your tax responsibility through various charitable deductions
  • Utilize overweight investments in your portfolio to migrate back to the target allocation
  • Build your family’s legacy

How Can I Give Impactfully?

If you’re looking for the most lucrative and beneficial ways to give, our team of professionals at Cadent Capital, LLC is here to recommend options based on your needs, values, and long-term goals. During a thorough consultation, we’ll go over your charitable giving goals so that you feel confident in the future of your financial plan.

A few of these solutions may include:

  • Retirement Plans – Direct required distributions to the charity of your choice to lower income tax liability, or name a charity as the beneficiary to your retirement plan, will, or living trust to preserve your estate tax liability.
  • Investment Gains – Gift appreciated securities directly to the charity to avoid taxes on the capital gains.
  • Business Ownership – Transfer a portion of your business ownership to the charity in anticipation of a sale to minimize your income and/or capital gains tax exposure.
  • Gifting of Real Estate – If you have a home, farm, or any other type of property, you can choose to gift these to your chosen charity while also maintaining the rights of the property while you are still living.
  • Charitable Lead Trust – By placing assets into a trust, you can choose for your charity to receive income each year or for a specific (fixed) period. Once this timeframe has passed, any remaining assets are transferred to denoted beneficiaries.
  • A Life Income Gift – This allows you to transfer property to your charity of choice while maintaining income interest. If the gift is only for a certain number of years, the remainder is allocated to the specific charity.
  • Donor Advised Fund – These accounts allow you to make a lump-sum charitable gift to the fund, and then distribute the proceeds via grants to charity at whatever pace you desire. The donation is complete for tax purposes when money is contributed to the Donor Advised Fund, so many find it beneficial to complete a larger gift during a high-income tax year and enjoy the flexibility around when the grants go to charity. Donors are urged to consult their attorneys, accountants or tax advisors with respect to questions relating to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes.

Any opinions are those of Cadent Capital and not necessarily those of Raymond James.  Changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.