11/19/2024
'Tis better to give than to receive.
With Thanksgiving and the holiday season approaching, it is always nice to think about giving as a means to make a difference in the world around us. Whether it is a gift to a child for educational purposes, a gift to a family member or friend in need, or a gift to a charity, you can make a difference in the world around you.
Consider making a gift to a child in an Edvest account for future educational expenses. Not only will your gift have tax benefits for you now, but it will grow tax free over time to double, triple, or even quadruple its impact over time for the child's benefit. After all, pursuing advanced education is getting more and more expensive making it wise to start saving now.
Consider making a gift of the annual exclusion amount to a family member or friend in need. For 2024, the annual gift tax exclusion amount is $18,000, and, for a married couple, the combined amount is $36,000. If you have more than you need, you can truly make a difference in the life of a loved one.
Finally, consider making a charitable gift. Perhaps you have a cause in which you truly believe and you feel called to help a charity. You can gift cash, equities, retirement plan contributions, life insurance proceeds, or real estate to advance a charitable mission while also achieving tax benefits. Read on to learn more about it! “Why Consider Charitable Giving?"
