One silver lining to come out of the pandemic has been the significant increase in giving to support those impacted the most. According to Giving USA, charitable giving in the U.S. reached a record $471.44 billion in 2020, up 5.1% from 2019. 1 As of June 2021, charitable giving has nudged even higher with a 6.1% increase over the prior 12 months. 2 As the giving season approaches, consider these four ways to maximize your giving power while potentially minimizing your tax liability.
4 Ways to Maximize Charitable Giving Impact
One silver lining to come out of the pandemic has been the significant increase in giving to support those impacted the most. According to Giving USA, charitable giving in the U.S. reached a record $471.44 billion in 2020, up 5.1% from 2019. 1 As of June 2021, charitable giving has nudged even higher with a 6.1% increase over the prior 12 months. 2 As the giving season approaches, consider these four ways to maximize your giving power while potentially minimizing your tax liability.