Charitable Gift Giving

Consider gifts of appreciated stock to satisfy your charitable giving.  The charity pays no capital gains tax on the sale of the stock as you would, essentially allowing you to make charitable gifts at a reduced cost to you.

Consider creating a “donor advised fund” administered by a local community trust.  You can make a gift to your donor advised fund, and take a charitable deduction for that year, but defer distributions to charities of your choice until the need for a contribution arises.  The funds are invested until distribution and community trusts offer planned giving advice to help you choose reputable and effective charitable recipients.

If you are over 70½, use up to $100,000 from your IRA to make gifts to a charity directly from your IRA and pay no income tax on the amount.  The distribution (called a “Qualified Charitable Distribution”) counts towards your annual required minimum distribution, but you will not receive a charitable income tax deduction.  If interested, check with us or your accountant.

If you have any questions regarding charitable gift giving, please contact Doris L. Martin, or visit our website.