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“In your opinion are tax and financial professionals taking the time to help clients understand the benefits of charitable giving?”

Comments

When asked, most people who give do not identify taxation as a primary reason for giving.  The top responses typically focus on making a difference.

It is important to have conversations with clients to ensure they understand that there may be more efficient ways to give to their favourite charities and that they are taking advantage of the tax system to maximize their ability to give.

How many of your clients are going out and spending after-tax cash on cans of food to donate to a shelter, when they could donate stocks in-kind and make a significantly more impactful gift for the same net cost to the client?

Let your clients understand that you support their desire to give, and let them dream a bit bigger by giving more efficiently.

By Ian Wood, MFA on December 06, 2017

Thanks for the seminar in Vancouver.  Confirm our thoughts in business in BC/Canada for passive income and small business.  We were able to bring this information to our accountant which in turn produced an active discussion and therefore we were able to make decisions to do with our year ends.

By Leanor Davidson on December 06, 2017