Best Charitable Gifts to Make in 2018
With the introduction of tax reform this year, you may be looking at your finances and wondering how you can continue to be charitable. While the reform may impact your ability to itemize your deductions, it is important to note that the charitable deduction was the only primary deduction not limited or repealed entirely in the final bill. In fact, benefits were expanded for some donors and the new law makes no changes related to deferred gifts.
Regardless of the new tax laws, if supporting Centre College’s mission to prepare students for lives of learning, leadership and service is your goal, there are many ways you can make a difference while enjoying financial benefits for yourself.
Here are some beneficial ways to support Centre College in 2018:
- Donate appreciated stock: With the stock market at or near all-time highs, donate your appreciated stocks and eliminate capital gains tax. Learn how to give stock.
- Name us as a beneficiary of retirement plan assets: These assets remain taxable when distributed to a loved one but are tax-free when given to a nonprofit.
- Give from your IRA (if age 70½ or older): Regardless of whether you itemize your taxes, this gift helps you fulfill your required minimum distribution and is not considered taxable income.
- Gifts of real estate: Many real estate markets are enjoying gains. Appreciated real estate may be subject to capital gains tax, but this tax may be avoided if donated to charity or transferred to a charitable trust.
Talk With Your Tax Professional
Please consult with your tax or financial advisors to determine what strategies to use for your charitable giving.
We Can Help
We are so grateful for your generosity. Please contact Jamey Leahey at 859.238.5224 or firstname.lastname@example.org or Steve Lownds at 859.238.5522 or email@example.com to discuss how your gift can help further our mission.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.