Last time on From The Source with Frankie and Sarah, they spoke about estate planning focusing on charitable giving through your Will, featuring Frank Cerisano.

Today, Frankie and Sarah discuss the tax implications of charitable gifts,  particularly the difference between doing it through your will versus during your lifetime. They cover the importance of donating to registered charities for the purpose of obtaining a tax receipt, the value of the donation that can be claimed, and the need for proper documentation. They also explore the different ways individuals and corporations can donate, including the tax benefits of donating publicly traded securities directly to charities. Sarah and Frankie emphasize that recent proposed changes to the alternative minimum tax (AMT) may impact decisions on whether to donate personally or through a corporation.

Frankie and Sarah discuss: 

• Potential tax benefits of charitable giving
  
• Why charitable receipts from qualified donees are necessary
  
• The different ways you can donate
  
• Considerations for donating to non-Canadian charities
  
• A refresher of the proposed alternative minimum tax (AMT) changes
  
• Whether you should donate personally or through a corporation
  
• The differences between gifting during your lifetime versus through your estate
  

Resources:

• Leaving a Legacy Through Charitable Giving with Frank Cerisano (Ep. 9)
  
• CRA: List of charities and other qualified donees
  

Connect with Frankie Loreto and Sarah Netley: 

• Courtice.BakerTilly.ca
  
• LinkedIn: Baker Tilly Canada
  
• LinkedIn: Frankie Loreto
  
• LinkedIn: Sarah Netley
  
• Call: (905) 579-5659