Tax Benefits & Tips

Selecting the right assets to give as well as the appropriate timing and gifting vehicles will maximize your charitable impact and provide the maximum financial benefits for you and your family. We will work closely with you and your professional advisors to maximize the charitable and financial benefits of your philanthropy. Here are four things to keep in mind as you plan your giving:

1. Charitable gifts made during your lifetime provide a federal and state income tax deduction and can reduce estate taxes.
   
2. Giving highly appreciated assets such as real estate and appreciated stocks yields an income tax deduction today (based upon the fair market value of the gift) plus avoid capital gain taxes.
   
3. Deferred giving can enable donors to make a current commitment to charity today and receive a predictable lifetime income. Donors can also:
   
   • Avoid an immediate capital gains tax on a gift of appreciated property
   • Receive an income-tax deduction for a percentage of the total amount gifted
   • Receive significant estate-tax savings by removing the property from an estate
     
4. Consider making a gift of a pension plan or IRA to charity to avoid income taxes upon a future distribution to heirs.

Please note that of the above strategies should not be relied upon as tax or legal advice. Donors should consult their tax and legal counsel for specific advice on their personal situation.