Here are some great creative giving strategies that will help multitudes of Jewish people hear the truth about their Messiah, and also maximize the tax benefits available you.
Your year-end gift can function as your own “personal matching grant,” as whatever you give before midnight of December 31st means you will pay less tax according to your tax bracket.
When you donate an asset that has increased in value, the IRS will allow you to deduct the current value.
A stock that went from $20 to $30 per share may be deducted at the $30 value if given to a church or ministry. You will not pay tax on the growth of the stock as it is viewed as a charitable gift.
A hundred shares of stock that appreciated by $10 per share gives you a $1,000 gain. If you sell the stock and give the proceeds to Chosen People Ministries, you will pay tax on the gain. If you simply donate the stocks, which we will sell, then you will not be charged the $1,000. This means your gift is worth $1,000 more!
This is true of mutual funds, real estate, coin collections, jewelry, and other items as well.
If you are over 59 ½, you can also transfer stocks, mutual funds, or cash (a money market fund, for example) from your IRA account and not be taxed on these gifts either – even if they have not appreciated!
The government has extended this benefit to those of us who hold traditional IRA’s and want to give directly from IRA accounts.
And remember if you are 70 1/2 this will count toward your required minimum distribution up to a $100,000.
Your Mission to the Jewish People has made this process fast and easy. All you need to do to transfer an asset is call Ralph or Cindy at 212-223-2252 (ext. 1208), and they will assist you. You will want to do this right away, as all transactions must be completed by the December 31st deadline in order to maximize your giving.
The transfer of funds or assets should take only a few hours, and we will help you through the process. Please call today so we can help!
Or, contact Cindy Forbes today at firstname.lastname@example.org.