How To Give
Simplicity and ease of delivery make cash the most convenient asset to donate. For tax purposes, gifts of cash are considered to be complete on the date they are personally delivered or postmarked or mailed. You may deduct gifts of cash from your income taxes for up to 50 percent of your Adjusted Gross Income. Any excess can be claimed on tax returns for up to five years in the future.
A gift of long-term capital gain securities usually will offer a donor important tax savings. For income tax purposes, your charitable deduction ordinarily will be the fair market value of the securities on the date they are delivered. Additionally, no capital gains tax will be payable on the appreciation in value.
Gifts of land and other real estate can offer many advantages to the donor. Such gifts can represent the elimination of an asset which has become too burdensome to manage, and at the same time it provides a valuable charitable contribution. Like gifts of securities, the appreciation portion of a real estate gift usually will escape capital gains tax and generate a current tax deduction based on the full market value of the property.
Frequently, people feel the need to preserve their financial resources for the immediate future, for their lifetimes, or even for a child's future. In such cases a donor can make a planned gift, which can provide valuable tax benefits for a donor in the present and a valuable resource for the future.
- Charitable Gift Annuities
- Charitable Remainder Trusts
- Charitable Lead Trusts
- Life Insurance
- Life Estate Agreement
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