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Savvy Year-End Giving

Article Type: Tips & Insights

Are you considering a year-end gift to one or more of your favorite ministries? These tax-wise tips will help you maximize your impact.

Pay attention to timing.

To receive a tax deduction on this year’s tax return, be sure cash gifts are postmarked or delivered in person by December 31. Gifts of stock or other non-cash assets must be received by the organization by December 31.

Consider giving appreciated stock or real estate.

You may be able to take advantage of significant tax benefits by giving non-cash assets such as appreciated stock, real estate or commodities. To maximize your benefits, make sure to give appreciated assets directly rather than selling them first and gifting the proceeds. 

Take advantage of tax-free distributions from your IRA.

If you are 70½ or older, you can make tax-free distributions up to $100,000 per year from your individual retirement accounts to charity. These gifts count toward your annual required minimum distribution and will not be included in your adjusted gross income.

These three tips are from “6 Tips for Effective Year-End Giving.” To request your PDF copy of the full list, email info@BarnabasFoundation.com