Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune. Many of the institutions of art, sciences and education are supported in large part by those who want to give something back in appreciation for their contributions to the community or the individuals themselves.
Charitable Giving Planning at Reviresco Wealth Advisory
Presently, the tax code offers incentives for gifting of one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.
Often times, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies. Charitable planning can involve tax issues that should be discussed with your financial advisor, as well as a qualified tax professional and a qualified estate attorney.
Our Charitable Activities at Reviresco
At Reviresco Wealth Advisory, we believe in giving back wisely in order to help our community and local charities while benefiting from appropriate tax incentives.
Our chosen charity is the Access Youth Academy which focuses on transforming the lives of underserved youth in San Diego. The organization helps develop leadership skills by focusing on a program including both scholarship and sportsmanship. Our firm’s founder, Ian Maxwell, serves on the board.
