Exodus Financial Group LLC

We are fortunate to live in the shadow of greatness, inspired by Dr. Martin Luther King Jr. and fellow civil rights leaders who gave their lives fighting for our rights.

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Giving Tuesday and Charitable Donations - Did You Know?

Giving Tuesday is an annual event that highlights charitable giving after Thanksgiving.

If you are considering charitable donations, you may be able to donate to a Donor-Advised Fund (DAF) every two or three years instead of every year. This may qualify you to receive tax benefits now, allow the amount to grow tax-free, and the decision on which qualified charity to fund can be made later.

If you are 70.5 years or older, you may also be able to make a qualified charitable distribution (QCD) directly from your IRA this year which can allow the donation to be excluded from your taxable income. A tax advisor can help you structure your charitable giving.

The IRS has released a tool to make it easier to get information about qualified charitable organizations. The Exempt Organizations Select Check tool can be found at: https://www.irs.gov/charities-non-profits/tax-exempt-organization-search.

The holiday season is just starting and there are so many things to do. If you're organizing your home for the season, take some time to start gathering your tax documents from this past year. Having your records organized will make it easier for you to file your tax return in 2026.

Get tips on what records you should organize at www.irs.gov/getready.

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