Expert highlights strategies to maximize holiday charitable giving

MILWAUKEE (CBS 58) -- As the holiday season approaches, financial experts are offering strategies to help individuals maximize their charitable donations.

Tony Drake of Drake & Associates joined us on Tuesday, Nov. 26 to discuss how nearly one-third of all annual giving occurs in December and how to maximize those gifts.

Drake mentioned that donations could benefit both recipients and donors, with tax incentives allowing deductions for contributions to IRS-qualified organizations. Options such as Qualified Charitable Distributions, appreciated securities and donor-advised funds provide tax-efficient ways to give.

To claim deductions, Drake advised donors to keep records and ensuring contributions meet IRS guidelines.