Financial Focus Maximize your charitable giving The Tuesday after Thanksgiving has become known as Giving Tuesday, when people are encouraged to donate to charitable organizations. If you'd like to take part in this special day, you'll want to maximize the effectiveness and benefits of your charitable gifts. So, consider these questions: Is the charity reputable? Does it use its resources wisely? Most charitable organizations are honest and dedicated to helping their specific causes. But some- times there are a few "bad apples" in the bunch. These groups arent necessarily fraudulent (though some are), but they may spend an inordinate amount of their donations on administrative expenses, rather than di- recting this money to where its most needed. Fortunate- tions at a 1:1 ratio, but some will match at 2:1 or even ly, you don't have to guess about the trustwonthiness or the efficiency of a particular group, because you can check on it. spent on administrative and fundraising costs. Generally charitable gifts, you generally have a choice between speaking, a charitable group that dedicates more than about 30% to 35% of its total costs to administration and fundraising expenses might be considered some- what inefficient, though you'd want to evaluate each charity individually, since extenuating circumstances can occur. Keep in mind, though, that smaller charities consult with your tax advisor and the charity (not all may not have the same resources as a national organi- zation to provide the reporting necessary for Charity Navigator. Will my employer match my contribution? You can make your charitable gift go a lot further if your employer matches it. Typically, companies match dona- COVID-19-related legislation that allows taxpayers to giving cash and another asset such as stocks. Each type of gift could earn you a tax deduction, but a gift of ap- preciated stocks could be more beneficial because you may also be avoiding the capital gains tax you might incur if you eventually sold the stocks. You should accept investments) before making the cash-versus- stock decision. Even if you don't itemize, you could still get a tax benefit from making a charitable contribution. That's because Congress has extended part of the claim charitable deductions of $300 (for single filers) or higher. Check with your human resources department $600 (for married couples) if they claim the standard about your company's policy on charitable matches. Are my charitable gifts tax deductible? A few years cash, not stocks. deduction. The charitable donations must be made in To make sure that a charity is an actual charity-one ago, Congress significantly raised the standard deduc- that is tax-exempt and listed as a 501(c)(3) organization tion, which, for the 2021 tax year, is now $12,550 for - you can go to www.irs.gov, the website of the Internal single taxpayers, $25,100 for joint filers and $18,800 for heads of household. As a result of this increase, many people no longer itemize and thus have less financial incentive to make charitable contributions. Revenue Service, and hit the "Charities & Nonprofits" link. An organization called Charity Navigator (www. charitynavigator.org) tracks charitable groups' finan- cial health and accountability, including how much is Giving Tuesday comes just once a year, but your gifts can have lasting benefits. So, be as generous as you can afford and enjoy the good feelings that follow. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. If you still do itemize and you're thinking of making Edward Jones, Member SIPC Edward Jones Sean P. Asiala AAMS Edward Jones Michael C. Caley AAMS Edward Jones Pam Covington OFP AAMS Edward Jones Tod Heisler AAMS Edward Jones Jason Korner CFP Edward Jones Quinn Nofziger Edward Jones Gwen Ruppert AAMS Edward Jones Karen Rupert AAMS Financial Advisor Financial Advisor Financial Advisor 7525 West Jetterson Blvd. Fort Wayne, IN 4604 Financial Advisor Financial Advisor 2030 Pointe tnverness Wey, Suite 125 Fort Wayne, IN 45804 432-3613 Making Sense of Investing Financial Advisor Financial Advisor Financial Advisor 7127 Homestead Rd. Suite C Fort Wayne. IN 14 karenuperttedwardjones.com 263-4760 991 Chestnut Hil Parkway Fort Wayne, IN 4G814 6525 Constitution Dr. Fort Weyne, IN 40804 7329 West Jeferson Bivd. Fort Wayne, IN 46804 14413 inois Rd Se E Fort Wayne. IN 46814 414 S Scon Rd. Fort Wiyne, IN 4a14 625-5700 Making Sense of Investing 432-0304 Making Sense of Investing 478-8038 Making Sense of Investing 444-3134 Making Sense of Investing 399-5853 Making Sense of Investing 625-3524 Making Sense of Investing Making Sense ef Investing Financial Focus Maximize your charitable giving The Tuesday after Thanksgiving has become known as Giving Tuesday, when people are encouraged to donate to charitable organizations. If you'd like to take part in this special day, you'll want to maximize the effectiveness and benefits of your charitable gifts. So, consider these questions: Is the charity reputable? Does it use its resources wisely? Most charitable organizations are honest and dedicated to helping their specific causes. But some- times there are a few "bad apples" in the bunch. These groups arent necessarily fraudulent (though some are), but they may spend an inordinate amount of their donations on administrative expenses, rather than di- recting this money to where its most needed. Fortunate- tions at a 1:1 ratio, but some will match at 2:1 or even ly, you don't have to guess about the trustwonthiness or the efficiency of a particular group, because you can check on it. spent on administrative and fundraising costs. Generally charitable gifts, you generally have a choice between speaking, a charitable group that dedicates more than about 30% to 35% of its total costs to administration and fundraising expenses might be considered some- what inefficient, though you'd want to evaluate each charity individually, since extenuating circumstances can occur. Keep in mind, though, that smaller charities consult with your tax advisor and the charity (not all may not have the same resources as a national organi- zation to provide the reporting necessary for Charity Navigator. Will my employer match my contribution? You can make your charitable gift go a lot further if your employer matches it. Typically, companies match dona- COVID-19-related legislation that allows taxpayers to giving cash and another asset such as stocks. Each type of gift could earn you a tax deduction, but a gift of ap- preciated stocks could be more beneficial because you may also be avoiding the capital gains tax you might incur if you eventually sold the stocks. You should accept investments) before making the cash-versus- stock decision. Even if you don't itemize, you could still get a tax benefit from making a charitable contribution. That's because Congress has extended part of the claim charitable deductions of $300 (for single filers) or higher. Check with your human resources department $600 (for married couples) if they claim the standard about your company's policy on charitable matches. Are my charitable gifts tax deductible? A few years cash, not stocks. deduction. The charitable donations must be made in To make sure that a charity is an actual charity-one ago, Congress significantly raised the standard deduc- that is tax-exempt and listed as a 501(c)(3) organization tion, which, for the 2021 tax year, is now $12,550 for - you can go to www.irs.gov, the website of the Internal single taxpayers, $25,100 for joint filers and $18,800 for heads of household. As a result of this increase, many people no longer itemize and thus have less financial incentive to make charitable contributions. Revenue Service, and hit the "Charities & Nonprofits" link. An organization called Charity Navigator (www. charitynavigator.org) tracks charitable groups' finan- cial health and accountability, including how much is Giving Tuesday comes just once a year, but your gifts can have lasting benefits. So, be as generous as you can afford and enjoy the good feelings that follow. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. If you still do itemize and you're thinking of making Edward Jones, Member SIPC Edward Jones Sean P. Asiala AAMS Edward Jones Michael C. Caley AAMS Edward Jones Pam Covington OFP AAMS Edward Jones Tod Heisler AAMS Edward Jones Jason Korner CFP Edward Jones Quinn Nofziger Edward Jones Gwen Ruppert AAMS Edward Jones Karen Rupert AAMS Financial Advisor Financial Advisor Financial Advisor 7525 West Jetterson Blvd. Fort Wayne, IN 4604 Financial Advisor Financial Advisor 2030 Pointe tnverness Wey, Suite 125 Fort Wayne, IN 45804 432-3613 Making Sense of Investing Financial Advisor Financial Advisor Financial Advisor 7127 Homestead Rd. Suite C Fort Wayne. IN 14 karenuperttedwardjones.com 263-4760 991 Chestnut Hil Parkway Fort Wayne, IN 4G814 6525 Constitution Dr. Fort Weyne, IN 40804 7329 West Jeferson Bivd. Fort Wayne, IN 46804 14413 inois Rd Se E Fort Wayne. IN 46814 414 S Scon Rd. Fort Wiyne, IN 4a14 625-5700 Making Sense of Investing 432-0304 Making Sense of Investing 478-8038 Making Sense of Investing 444-3134 Making Sense of Investing 399-5853 Making Sense of Investing 625-3524 Making Sense of Investing Making Sense ef Investing