I previously blogged about the increasing popularity of gift-giving this year. Charitable contributions are also expected to increase as peoples’ taxes rise over the next 18 months. Eighty-seven percent of advisors think that their clients will see a tax spike in the next 12-18 months, and twenty-six percent of advisors believe that their clients will increase charitable giving to dull the pain. This is good news for charities, who saw a 3.6% decline in charitable giving in 2009 due to the recession.
See Eric Rasmussen, Higher Taxes May Prompt More Giving, Financial Advisor, July 22, 2010.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.
