Know Your 2013 Planning Options
In the closing months of 2013, you may find yourself thinking about year-end planning and charitable giving—the two often go hand in hand.
Knowing about gift options and how they impact your personal planning can be very helpful. Some gifts can impact your tax picture for 2013. As you consider ways to support our work, two ideas you should know about are gifts of appreciated stock and the IRA charitable rollover.
- By giving appreciated stock (held more than one year) rather than cash, you obtain an income tax charitable deduction for the current fair market value of the stock, and you also enjoy additional tax savings by avoiding capital gains tax.
- If you are an IRA owner age 70½ or over, you can instruct your IRA administrator to make a distribution directly from your IRA to us (up to $100,000), and the amount counts toward your required minimum distribution. There is no charitable tax deduction, but you pay no tax on the distribution amount.
Please contact us for more information about ways to make a personally satisfying gift.