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Unless your effective tax rate is 100%

Couldn’t one say that a real tax tip is not to give anything away? After all, as many people have noted, unless the effective tax rate is 100% [and this will never be the real case], one would always be better off, strictly financially speaking, if you didn’t give a donation but rather kept the property.

That’s true, again, as a matter of pure dollars and cents, and sense. But I am assuming, with a tax tip every day, that you are already giving to charitable causes. I just want you to maximize your charitable giving, and tax planning is certainly a major way to accomplish this.

Gordon Fischer Law Firm, P.C. is dedicated to promoting and maximizing charitable giving in Iowa. Gordon can be reached by phone at 515-371-6077; by email at gordon@gordonfischerlawfirm.com; and through his website at www.gordonfischerlawfirm.com.

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