Charitable giving is one of the hallmarks of the holiday season. Here are a few ways to give generously in 2018 and save substantial tax dollars.
GIVE APPRECIATED STOCK
A gift of publicly-traded securities could be right for you if:
- Gains in the stock market make giving appreciated securities to WPI especially tax-smart.
- You would receive an income tax charitable deduction equal to their full market value and avoid capital gains tax on the securities that you contribute.
USE YOUR IRA RETIREMENT PLAN
An IRA charitable rollover gift could be right for you if:
- If you are 70 ½ or older, you can make a tax-free gift of up to $100,000 to WPI directly from your IRA account.
- Your gift is not included in taxable income from your IRA, but it does count toward your required minimum distribution.
RECEIVE A CHARITABLE DEDUCTION AND LIFETIME PAYMENTS
An WPI Gift Annuity could be right for you if:
- Charitable gift annuity rates are generous compared to interest rates being paid by banks on Certificates of Deposit and are tax attractive if funded with appreciated securities.
- In addition to receiving fixed payments for life, you will receive an income tax charitable deduction for a portion of your gift.