End-of-Year Planning Checklist

Now is the time to review your tax strategies and update your estate plans. December  31 will be here before you know it, and there may be actions you can take to reduce your taxes.

A gift for the person who has everything –

As you think about special holiday gifts for family and friends, remember that making year-end charitable gifts can be a heartwarming experience that also offers you tax benefits. Instead of giving a trinket, make a gift in honor of that friend or relative.  We will gladly send them a note telling them of your generosity and you will receive a tax deduction.

Offset capital gains –

If you plan to make gifts of stock to Children's Cancer Connection, it is best to make those gifts with appreciated stocks. If the stock price has declined or has not changed much from its original cost basis, it may make more sense for you to sell the securities and donate the cash proceeds.

As you consider your situation –

You may want to take this time to update your will (or make one if you have not already done so.)  This can be one of the greatest gifts you give your heirs.  Depending upon your financial situation, you may also want to talk to a financial planner.  There are many types of investments that carry tax consequences if not executed correctly.  Often by making a few changes you can actually leave more of your assets to your heirs and the charities you care about.

We Can Help
If you're in the planning stages, please contact Mark Slocum, Executive Director at 515-243-6239 or Mark@ChildrensCancerConnection.com forhelp. We can confidentially address your financial and personal goals with regard to charitable giving, the timing of your gift and how the gift can be made.