Suggestions
Tax Strategy: Charity gift to stay under tax bracket
Would like to have ProjectLab model out me giving to Charity as a means to lower my tax liability to stay within a lower tax bracket. Not sure if Charity would be an Expense item, or an item under Cash Flow Priority, or line item in a new category within my plan (Charity? Tax Strategy?)…??
But as the plan models me just going over into the next higher tax bracket, if I gave away $ to charity, that would drop me back into the lower bracket. So can I have an (Expense? Cash Flow Priority? Tax Strategy?) item that allows the plan to auto-give to generic “Charity” to keep me in the lower tax bracket? Maybe with some ceiling parameters (none, give $ up-to-tax liability difference, or ???) – makes sense to give $10K to charity to keep me in the lower tax bracket, but probably doesn’t make sense to give $100K away. So some upper limit before I just accept that I’m in the higher tax bracket this year…