June PG Blog

5 Ways to Maximize Your Giving

Smart giving to stretch your dollar and reduce your taxes.

Whether shopping, investing, or giving, you’re always trying to get the most out of your money. To you, this just makes sense!

If you’re looking for even more ways to stretch your dollars, consider these smart, tax-wise ways to support Love Worth Finding.

Give Appreciated Stock

If you’ve owned stock for at least a year, you can receive a double tax benefit by donating it to Love Worth Finding. Not only will you receive a tax deduction for the fair market value of the stock, but you’ll also avoid paying capital gains tax.

Give Real Estate 

If you have real estate that’s increased in value and you no longer need it, consider gifting all or a portion of it, prior to a sale. By doing so, you can bypass the capital gain and receive a charitable deduction.

Give From an IRA

If you are 70 ½ or older, you can make tax-free distributions from your IRA (individual retirement account), up to a maximum of $100,000 per year. These gifts count toward your annual required minimum distribution, and none of the IRA distributions will be included in your adjusted gross income.

Give Farm Machinery and Commodities

Farmers can realize big tax savings by gifting machinery and commodities – such as grains, soybeans, fruit, and even livestock – before they are sold. You’ll reduce your taxable income, and you may be able to deduct the production costs.

Make a Life Income Gift

Life income gifts are great solutions if you wish to give with impact, but are concerned about having enough to meet your family’s needs. You can give cash or other property, and receive a steady income for the rest of your life or for a set number of years. The remainder of the gift will go to support Love Worth Finding.

Love Worth Finding partners with Barnabas Foundation to provide planning assistance at no cost or obligation to you. Since 1976, they have helped thousands of generous givers increase their impact through tax-wise charitable gifts and will planning from a distinctly Christian worldview.

Please contact Bob Dawkins, CTFA, or Sam Cox by email at [email protected] or call (800) 274-5683 for more information.