Bundled Gifts May Ease Year-End Tax Burden

If you have some flexibility in your budget, and you normally give each year to your favorite charities, you might consider combining the donations you would typically make over two or more years into one large gift. By combining gifts into one tax period, it's possible those donations could be large enough to justify itemization. A donor-advised fund is a great repository for those bundled gifts, because you can make grants from that fund for years to come. A donor-advised fund can be established with as little as $5,000; donors may build the fund up to that amount within three years, with a $1,000 starting donation and a new fund agreement. Learn more about donor-advised funds with the Outer Banks Community Foundation here, and call us if you would like to know your options. We would be happy to talk with you.

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