The Life-Changing Benefits of Giving: How to Maximize Your Impact (and Your Tax Savings)

From a young age, giving back has shaped who I am. Throughout high school and college, I spent nearly every year on mission trips. Later, I had the incredible opportunity to serve communities in Uganda—a place that forever changed me. Each experience was unique, but I always returned home with the same realization: I received far more than I gave.

At Sorelle Wealth Partners, we believe generosity is one of the most powerful forces in life. Giving—whether time, talent, or treasure—creates deep personal fulfillment, strengthens communities, and even improves your physical well-being. And when approached thoughtfully, it can also be incredibly tax-efficient.

Below are ways you can maximize your gifts – whether they are treasure, time or talent.

Maximize Your “Treasure”: Tax-Efficient Giving Strategies

Even with higher standard deductions post the Tax Cuts and Jobs Act of 2017, there are still many ways to give tax-efficiently.  These strategies remain some of the most powerful tools we use with clients at Sorelle Wealth Partners.

1. Qualified Charitable Distributions (QCDs)

If you’re age 70½ or older, a QCD may be the single most tax-efficient way to give.

Benefits include:

• Donate up to $108,000 per year (2025) directly from your IRA

• Satisfies all or part of your Required Minimum Distribution (RMD) – which being at age 73 or 75

• Amount donated is excluded from taxable income

This is especially beneficial if you do not need your full RMD for living expenses.

2. Charitable “Bunching” + Donor Advised Funds (DAFs)

With the 2025 standard deduction at $31,500 for married couples and $15,750 for single filers, many households no longer itemize annually. But charitable bunching may allow you to reclaim those tax benefits.

How Bunching Works

Let’s say you’re married. You typically give $10,000 to charity per year, have $8,000 of mortgage interest, and $12,000 in State & Local Taxes (SALT).

• $10,000 (charity) + $8,000 (mortgage interest) + $12,000 (SALT) = $30,000 → below the standard deduction of $31,500 → no tax benefit

But if you combine three years’ worth of charitable contributions into one year:

• $30,000 (charity) + $8,000 (mortgage interest) + $12,000 (SALT) = $50,000 → you can itemize

In this example, you would execute this strategy every 3 years. By doing so, you continue giving $10K/year to charity but get to itemize your deductions every 3 years.

Why Use a Donor Advised Fund?

A DAF allows you to:

• Get the tax deduction now

• Give the money away over time

• Invest the balance in the meantime

• Involve your children in charitable decisions

3. Donating Appreciated Securities

If you have investments that have grown in value, donating appreciated securities can be significantly more tax-friendly than giving cash.

Benefits:

• Avoid capital gains tax

• Deduct the full fair-market value (if itemizing)

• Increase your impact without increasing your out-of-pocket cost

Example:
If Julie bought $10,000 of a mutual fund five years ago and it's now worth $15,000:

• She can donate the full $15,000

• She avoids tax on the $5,000 gain

• The charity receives the full value

The “One Big Beautiful Bill” (OBBB) and Charitable Gifting Considerations

The passing of the One Big Beautiful Bill (OBBB) earlier this year included impacts to charitable contributions. For one, taxpayers who do not itemize deductions are now allowed to make “above-the-line” deductions of up to $1,000 to charity for Single filers and $2,000 for those filing joint returns. On the downside, starting in 2026, there are 2 ways in which charitable contributions can be limited:

1.      Only charitable contributions above 0.5% of your Adjusted Gross Income (AGI) can be deducted on your itemized deductions.

2.      Those in the 37% tax bracket will have the overall benefit of their itemized deductions capped at 35%.

Due to these limitations starting next year, it could make sense for people (particularly in the highest tax bracket) to accelerate charitable giving in 2025 via a Donor Advised Fund contribution.

Maximizing Your “Time” and “Talent”: Making a Meaningful Impact Beyond Money

While tax-efficient “treasure” is an important part of giving, some of the most transformative contributions come from something even more personal—your time, your skills, and your presence. Financial generosity is powerful, but giving of yourself often creates the deepest impact, both for the recipient and for you.

Here are meaningful ways to maximize your time and talents in service of others.

1. Skills-Based Volunteering: Use What You’re Already Great At

Everyone has a unique gift—financial knowledge, organizational skills, legal expertise, teaching ability, creativity, leadership, or compassion. Offering your professional or personal strengths can often solve problems that money alone can’t.

Examples include:

• Helping nonprofits with budgeting or strategic planning

• Providing pro bono legal or tax support

• Designing marketing materials or building websites

• Coaching job seekers with résumé reviews or interview prep

• Teaching financial literacy workshops

Skills-based volunteering often has a multiplier effect: you elevate the organization’s capacity, which strengthens their long-term mission.

2. Hands-On Volunteering: Make a Direct Difference in Your Community

Sometimes the most meaningful experiences come from showing up physically—being present and connected in a way that dollars can’t replace.

Ideas that create real impact:

• Serving meals at a shelter

• Sorting donations at a local pantry

• Delivering meals to seniors

• Cleaning parks, rivers, or community spaces

• Visiting nursing homes or hospitals

• Helping at community events or fundraisers

• Supporting refugee or resettlement organizations

These acts of service remind us of the humanity we share and the power of showing up for someone who needs it.

3. Micro-Volunteering: Make an Impact in Minutes

Not everyone has hours to spare each week – as a mom of 3 little ones and an entrepreneur, I get this!  Micro-volunteering allows you to contribute in small bursts of time—often from home or your phone.

A few examples:

• Writing encouraging cards for hospitalized kids or seniors

• Reviewing grant applications

• Translating or proofreading documents

• Making blankets for animal shelters

• Participating in local drives for coats, books, or food

Small, consistent acts still make a large collective impact.

4. Board Service: Lead With Purpose

Serving on a nonprofit board is one of the most strategic ways to give your time and talent. Board members provide:

• Vision

• Governance

• Financial oversight

• Fundraising leadership

• Community connections

For people who want to blend leadership with philanthropy, this is a high-impact way to support causes you care deeply about.

5. Make Giving Social: Volunteer with Friends, Family, or Colleagues

Giving doesn’t have to be a solo activity. Volunteering with others can:

• Strengthen relationships

• Build shared purpose

• Create accountability

• Multiply your impact

Whether it’s a quarterly volunteer day, joining a service group, or participating in a charity 5K, giving alongside others amplifies the meaning behind the work. And for those with children, bringing them along is one of the best lessons you can teach.

6. Align Your Time & Talent with Your Values

Just like financial giving, volunteering should come from a place of alignment. Ask yourself:

• What causes tug at my heart?

• What issues do I feel compelled to change?

• Where do my strengths meet a community need?

When your service reflects your values, the experience becomes energizing instead of draining—and the impact becomes long-lasting.

Final Thoughts

Giving should always be a selfless act—but the reality is that maximizing your gifts of time, talent, and treasure can leave you feeling more fulfilled, more connected, and more grounded.

At Sorelle Wealth Partners, we help families create giving strategies that align with their values, reduce taxes, and deepen their sense of purpose. If you’d like help developing a tax-smart charitable giving plan or integrating generosity into your long-term financial strategy, we’d love to guide you.

👉 Learn more about our values-based approach to wealth:
https://www.sorellewealthpartners.com/services

Sorelle Wealth Partners is a business name used for marketing purposes. All advisory services are offered through Savvy Advisors, Inc. (“Savvy”). Savvy is an investment advisor firm registered with the Securities and Exchange Commission (“SEC”). Sorelle Wealth Partners is not a separately registered investment advisor.  The examples shared are hypothetical and are not based on an actual client experience or outcome.