The Six Best Ways to Give to Charity (And Cut Your Tax Bill)

Giving your money to charity doesn’t have to be a totally selfless act. It can also be a way to keep the tax collector’s hands out of your pocket or away from your heirs.

Photo of a hand putting money in a donation box
(Image credit: Getty Images)

 

Charitable giving can be good for your conscience as well as your finances. The substantial tax breaks associated with those gifts play an important role in tax and estate planning, even with today’s generous federal estate tax exemption of $12.06 million.

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David Rodeck
Contributing Writer, Kiplinger's Retirement Report