While summer may be all about sunshine and slowing down, it’s also a perfect time to think ahead. Year-end charitable giving might not be on your radar during July or August—but it should be. Planning early can save you time, reduce stress, and make your generosity go further.
Whether you’re looking to make a difference, teach your kids about giving back, or maximize your tax benefits, here are five ways to simplify your charitable giving this year.
1. Start with a Giving Plan
Who do you want to support and why? Whether it’s a local food bank, your alma mater, or a cause close to your heart, clarifying your goals makes giving more intentional.
Summer is a great time to revisit your values, talk with family members, and research nonprofits that align with your mission.
2. Consider Donating Appreciated Assets
Instead of writing a check, consider gifting stocks or mutual funds that have appreciated in value. This strategy allows you to avoid capital gains tax while deducting the full fair-market value. It’s a smart financial move that can also support nonprofits more meaningfully.
3. Use a Donor-Advised Fund (DAF)
A DAF acts like a charitable savings account. You contribute now (and get the tax deduction now), but you can distribute the funds to charities over time. If you’re not sure where to give just yet, but want to lock in this year’s tax benefit, a DAF is a great tool.
4. Make a Qualified Charitable Distribution (QCD)
If you’re over age 70½ and have a traditional IRA, you can transfer up to $100,000 annually to charity through a QCD. Not only does this fulfill your required minimum distribution, but it also lowers your taxable income.
5. Track and Document Your Giving
Don’t wait until December to gather receipts. Set up a simple tracking system—whether it’s a spreadsheet or a folder in your email inbox. Keep acknowledgment letters and confirmations from charities so you’re ready at tax time.
Final Thought
Charitable giving doesn’t have to be stressful or last-minute. A little forethought during the summer can help you give more effectively—and joyfully—when the year ends. Plan now, give with purpose, and feel good knowing your generosity is making a real difference.
