Why do individuals give to charity:
● Leave a legacy
● Essential to organizations
● Meaningful tax relief for contributors
There are many ways to give and lots of potential tax savings:
1. Simple Cash Gifts
– Charitable tax credit
2. Gifts in Kind
– Charitable tax credit based on fair market value, if the market value is over $1,000, it’s best to get an independent valuation.
3. Bequest through your will
– Year of death up to 100% of net income for year of death and carryback for year preceding death
4. Life Insurance
Depending on setup:
5. Proceeds of RRSPs/RRIFS at Death
– Proceeds of income donated as charitable donation
6. Charitable Annuities
– Provide income to yourself and portion goes to charity
To learn more about charitable giving, please contact us.
Springer Financial
Rosetta Springer
Financial Advisor
647-993-8236
info@rosettaspringer.com
707 St. Clair Avenue Suite 520
Toronto, Ontario
M6C 4A1
Clients are always surprised at the simplicity of my financial solutions. In my experience, the real challenge lies in seeing the big picture and analyzing all the working parts. By delivering an approachable plan, I help my clients clarify the path to their goals. I feel lucky to do this work; I get to help people from all walks of life that are doing well in the world.