Redirecting your tax dollars to charities, advice from Steve Sexton
“Winning In Life” is the radio show hosted by top financial advisor Steve Sexton. Steve is the President of Sexton Advisory Group and he is also involved with many local charities around the San Diego and Southern California region. Each week on the show, he provides his listeners with exclusive advice in financial planning and he also invites guest speakers to talk about other important topics ranging from health and charity, to travel and much more. Tune in every Sunday morning at 9:00 KCBQ 1170 AM to hear the show live.
This week, Steve invited a very special guest to the show, Jack Keeter, who has previously been featured on Winning In Life Radio. Last time, the two talked about making retirement less taxable, but this time they discuss why people should give to charities and how they can do it.
If you could give your tax money away, who would you give it to? October is charity month on Winning In Life Radio and in this segment, Steve and Jack discussed several ways people can redirect their taxes to charities instead. Jack explains that people would most likely rather pay taxes for the things they believe in rather than pay taxes to the IRS.
The Hospice of the Valley is an amazing charity that Steve introduced to the listeners. This charity donates money to people who can’t afford long-term care or special support for certain illnesses. Every cent donated to this charity goes towards saving someone’s life. Jack talked about how we should use our extra investment dollars to fund charities such as The Hospice of the Valleys. It is our choice to make a difference and when you make that choice, you can help so many people.
The big topic of discussion here is how people can redirect their tax dollars to charities. Steve gave an example of a married couple that was paying taxes on money they weren’t spending. With their IRA, they would have about $1 million in 20 years that could be left to their son. The problem is, their son would have to pay huge taxes. The solution was to give to a charity every year to offset the taxes they would have to pay to the IRS. The couple chose to give $5,000 every year to the Boys & Girls Club. This is one of many examples of how giving back to charities could actually be tax-advantageous. Steve said donating a significant amount of money to charities can also help keep you in the 15% tax bracket.
Trillions of dollars every year are falling through the cracks to the IRS. Why not take advantage of those dollars and put it into something beneficial for you and your community? If you want to hear the in-depth discussion about more reasons you should donate to charities, listen to the entire show here: www.winninginliferadio.com.
If you are part of a charity and want to be featured on the air, contact Steve at (800) 560-2611.