Key Takeaway
You don't have to choose between your financial goals. Start by taking advantage of available employer benefits, then balance your remaining savings between short-term priorities and long-term financial growth. Keep money needed in the near term in an appropriate low-risk option, and consider the tax implications before using long-term savings.
Private Foundations and Public Charities differ of public involvement. Public Charities usually receive most of their donations from the general public or government and taxpayers can usually deduct 20% to 60% of their adjusted gross income for charitable donations. Private Foundations can provide anIMMEDIATE tax deduction of up to 30 percent of adjusted gross income for cash gifts and up to 20 percent of adjusted gross income for long-term appreciated publicly traded assets.
If you would you like to explore this topic further to see if it’s a good fit for you and your business, we welcome you to Begin with a Free Tax Savings Discovery Session Here if they would like to further explore if this is a good fit for them.
