Gifting can be a tax-efficient way to transfer wealth before and after your passing, and there are many strategies available depending upon your situation and goals. Gift Tax Exclusion – The IRS provides an annual gift tax exclusion of up to $17,000 (2023) to individual taxpayers. This means that you can gift ... Read more. The post What gifting strategies will reduce my taxes? appeared first on Grand Life Financial.| Grand Life Financial
There are several ways that you can reduce your taxes when contributing to qualified charitable organizations, so long as you are able to itemize your tax deductions. Establish a Donor-Advised Fund – Tax law changes may have adversely impacted your ability to itemize your annual charitable donations. You might consider establishing a ... Read more. The post How can I maximize my tax savings when donating to charity? appeared first on Grand Life Financial.| Grand Life Financial