Charitable Giving

Planning to exit your business in the next 5 years, own highly appreciated assets or have taxable income in excess of 1 million? We can help.

Do your giving while you’re living, so you’re knowing where it’s going.
– Andrew Carnegie

At Bridge, we believe that family comes first and giving back to our community and the world at large second. That’s why so many of our solutions involve charitable giving strategies. When implemented properly you control how your tax dollars are spent, not the government.

Let us show you how Congress and the IRS empower clients to design planning instruments to minimize taxes, integrate charitable and non-charitable planning tools synergistically, and draft and fund tools to allocate the correct amount of wealth for personal and community goals. We can help you decide how much wealth will be consumed, transferred to beneficiaries, gifted to charities OR PAID IN TAXES.

As we see it you have two choices:

  • You can be an involuntary donor: if you do nothing, you give your hard earned dollars to the federal and state treasuries through taxes. You allow the government to make decisions about how your money is spent.
  • Or, you can be a voluntary donor. Congress allows Americans to use a variety of trusts and other planning techniques to direct their would-be tax money to their favorite charities. You can send your voluntary tax money to foundations that then redirect those funds to charities that are close to your heart. Through active involvement in charitable planning, you can control, and feel good about, the portion of your wealth that used to go the Federal and State Treasury.

The Internal Revenue Service encourages charitable giving by providing tax breaks to those who give all types of assets to charity. Charitable giving isn’t just about giving monetary assets; we can aide our clients by helping them give art collections, real estate, boats, and other assets to charities. Very often, it is possible to retain lifetime use of these assets.

Charitable planning is a way for a donor to transfer assets to a non-profit after death. It is also a way for a donor to preserve income from assets throughout lifetime, while knowing that the assets will generate benefits for worthwhile causes after the donor dies. A gift at death can produce a charitable income tax deduction now as well as an estate tax deduction at death.