Key Takeaways
- Because of the new tax laws, giving this year could offer better tax benefits versus waiting—particularly if you itemize your taxes.
- Bunching donations—accelerating multiple years’ worth of gifts into one—can help you exceed the standard deduction or increase tax savings if you are itemizing.
- Donating stocks or cryptocurrency can help avoid capital gains taxes as well as create an income tax deduction.
- With a donor-advised fund, you make an irrevocable contribution and take an immediate tax deduction. Your contribution is invested for potential tax-free growth, and you can make grant recommendations to IRS-qualified charities.