Gift Guide Chart
“Give to the Most High as He has given to you, generously, according to your means.” -Sirach 35:7-10
The chart below may help you find a way to give generously, but within your means.
| Consider donating | Other benefits |
A gift now |
|
| Cash | · Take a charitable deduction, if your tax situation allows. |
Avoid depleting cash |
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| IRA Qualified Charitable Distribution (QCD) | · Exclude a QCD from taxable income. · Apply the QCD to your Required Minimum Distribution (RMD). |
| Appreciated securities or real property | · Avoid capital gains. · Take a charitable deduction, if your tax situation allows. |
| Grain or livestock | · Exclude value from income and self-employment tax. · Take a charitable deduction, if your tax situation allows. · Deduct production expenses. |
A gift now & in the future |
|
| Establish a Donor Advised Fund | · Use accumulated assets to grow a fund for giving. · May avoid capital gains tax on appreciated assets. · Take a charitable deduction, if your tax situation allows. · Avoid taxes on the fund’s growth. |
A gift in the future |
|
| Donate a paid-up life insurance policy | · Make a gift for little cost. ·Take a charitable deduction, if your tax situation allows. |
| Make a bequest in a will or trust | · Retain control of your assets during your lifetime. · Reduce potential estate taxes for your heirs. |
| Name a charitable beneficiary for your retirement plan assets | · Reduce income taxes and potential estate tax for heirs. · Pass other more favorably taxed property to your heirs. |
With income now |
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| Charitable gift annuity or charitable remainder trust | · Avoid up-front capital gains tax on appreciated assets. · Take a charitable deduction, if your tax situation allows. · Receive partially tax-free income. · May improve the return on your assets. |
Please consult with your own attorney and other professional advisors regarding your personal tax and financial situation.
