Now that we’re in the year-end holiday season, experts say financial advisors should discuss the benefits of charitable donations with their clients.

“Charitable giving is a great discussion point and planning idea as part of a year-end review because the holidays tend to bring out people’s generosity,” Dean Mioli, director of investment planning for SEI’s independent advisor solutions, says. “It’s a good time to reach clients and wish them happy holidays, as well as ensure they can maximize their charitable intentions,” he says.

Proper charitable giving strategies also produce tax benefits for clients and Kim Laughton, president of Schwab Charitable, says client giving strategies may need to change after the November 2017 passage of the Tax Cuts and Jobs Act.

Changes passed in the bill include increases to the standard deduction and the elimination of unlimited state and local tax deductions.

Speaking with FA-IQ at the Charles Schwab conference in Washington, D.C., Laughton explains why advisors must discuss charitable donations with clients, what strategies FAs need to know, and how giving strategies should be explained to clients.