Gift of Stocks and Bonds Provides Tax Advantages
A gift of appreciated securities can provide a great tax advantage. These gifts are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income each year. If you itemize, you receive a charitable tax deduction for the full value of your gift just as you would with cash, provided you have owned the securities for more than 12 months.
If you would like to have your gift continue to give to the Church long after you are gone, direct it to one of your parish endowments. Or, consider establishing a new endowment for your parish. Investment earnings on endowment funds provide money that can be spent each year. The principal grows in perpetuity and is never spent, guaranteeing an income for generations to come – a true legacy gift.
Gifts through Bequests
A bequest to your parish can be made through your will or trust, and is fully deductible for estate tax purposes. All bequests of any size are appreciated and important. Endowments may also be set up through wills or trusts.
A Gift in Memory or in Honor of a Loved One
Consider an endowment in Memory or in Honor of a loved one. There is no minimum gift requirement for this and it is a creative non-traditional gift that celebrates the true meaning of Christmas.
If you are 70 1/2 or older and have a traditional or Roth IRA, this year you can make gifts directly to charitable recipients – including our parish – from these accounts on a totally tax free basis. Couples with separate IRAs can each give also. Taking advantage of this opportunity can be especially attractive if withdrawals in past years have caused your Social Security income to be taxed at higher rates, or if you have reached the limit for the amount of charitable gifts you can deduct.
Please contact Claudia Putnam with any questions at email@example.com.
Online Giving: http://stgabrielgiving.org