Receive Tax Benefits

The decision to make a planned gift can result in significant tax benefits.  Depending on the giving option you choose, you may:

  1. Subtract the value of your gift from your estate, which will lower the amount you pay in estate taxes.  Gifts of IRAs and life insurance are fully deducted from your estate.  In addition, you may also receive an income tax deduction from an IRA.  Currently, an individual can pass $1 million to his or her heirs before entering estate tax brackets of up to 55 percent.
  2. Deduct the gift from your current yearly income, which can lower your federal income tax for the year in which you make the gift.

Cash gifts - Deduct up to 50 percent of your adjusted gross income in the year of the gift.  You can also carry forward the balance of the deduction for up to five years.

Appreciated securities - Receive an immediate charitable income tax deduction and avoid paying capital gains tax.   In addition, for appreciated securities, personal property, and real estate you can receive a larger deduction of up to 30 percent of your adjusted gross income for the fair market value of your asset.  Finally, if you find a gift annuity or charitable remainder trust, you receive an income tax deduction in the year of your gift, and you remove the assets from your taxable estate.

Charitable gift annuity or charitable remainder trust - Deduct a portion of the gift from your federal income taxes (because you receive income from your gift). 

If you would like more information or have questions, please contact:

Dana Glass
(334) 844-9130
E-mail