Charitable Giving Strategies
Thoughtful Charitable Giving Strategies
For many individuals and families in Dallas, financial planning isn't only about managing wealth—it's also about creating impact. At Beacon Financial Group, we help clients explore ways to integrate Charitable Giving into their personal financial plan. Whether your focus is supporting a favorite cause, creating a legacy, or understanding the tax and charitable donations connection, learn how thoughtful planning can make giving more meaningful.
Why Consider Charitable Giving as Part of Your Financial Plan?
Charitable giving is more than writing a check—it's about aligning your values with your resources. For some, it's about giving back to the community. For others, it's about teaching the next generation the importance of generosity. Whatever your motivation, charitable donations can be thoughtfully structured within your financial plan.
You may want to explore charitable giving strategies if you're considering:
Making a charitable donation that fits within your overall financial picture.
Understanding how tax and charitable donations may interact.
Evaluating the deduction for charitable donations and how it applies to your situation.
Identifying opportunities for donating that reflect your long-term goals.
Our Approach to Charitable Giving
At Beacon Financial Group, we help you look at both the financial and personal sides of giving. A charitable giving strategy often involves more than one option, and our process is designed to give you clarity around what might work best for your situation.
Exploring Donation Methods
From one-time charitable donations to structured giving over time, we’ll review different approaches to donating that may align with your goals and circumstances.
Tax Considerations
When considering tax and charitable donations, it’s important to understand how different types of contributions—such as cash, appreciated assets, donor-advised funds, or QCDs—may impact your taxes. While we do not provide tax advice, we help you consider these factors within your broader financial plan and encourage coordination with your tax professional.
Integrating with Your Financial Plan
We view charitable giving as part of a bigger picture. By connecting your donations to your overall financial goals, you can approach giving with confidence that it supports both your values and your plan.
Schedule a meeting to review your options.
What Makes Our Approach Different
Beacon Financial Group takes a personalized approach to charitable giving, recognizing that each individual's reasons for donating are unique. Our role is to provide perspective, highlight options, and guide you in thinking through the role charitable donations play in your financial strategy.
Frequently Asked Questions
Q What qualifies for a deduction for charitable donations?
In general, donations to qualified nonprofit organizations may be eligible for a tax deduction. It's important to keep documentation of your contributions and confirm eligibility with a tax professional.
Q Are there ways to give beyond writing a check?
Yes. Options such as donating appreciated stock, setting up a donor-advised fund, making a QCD, or including charitable giving in estate plans may all be considered, depending on your goals.
Q How can I decide which giving strategy is right for me?
The right approach depends on your financial situation, the causes you care about, and how you want your donations to fit into your long-term financial plan. A financial planner can help you think through the possibilities.
We’re Here to Help
Charitable giving offers an opportunity to connect your financial plans with your personal values. Whether you're considering a one-time charitable donation, exploring QCDs, reviewing the deduction for charitable donations, or looking at long-term ways of donating, having a strategy can bring clarity.
If you're in Dallas and want to discuss charitable giving as part of your financial plan, contact Beacon Financial Group to start the conversation.
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Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS or Beacon Financial Group. Beacon Financial Group is affiliated with Kestra IS and Kestra AS.