It Pays To Be Charitable

Tax Tips to help yourself, and give at the same time!

Gifts of stock

Go for a Double Tax Break by donating appreciated stock. Gifts of stock have become increasingly popular for donors of all ages. You may be able to make a gift much larger than what you originally planned and benefit from the double tax savings as well.

Gifts of real estate

You may be surprised to learn that your personal residence, farm, vacation home, commercial property, or parcel of undeveloped land can make a tax-smart donation, allowing for substantial income tax deduction.

Estate Planning

If you have possessions, you have an estate. The disposition of your possessions when you die is called estate settlement. Deciding in advance how this will be done is known as estate planning. Yet, in the course of our busy lives, proper estate planning is often neglected due to a variety of reasons.

Endowing your gift

Or how to make your gift last forever. Setting up an endowment could be the most farsighted and enduring act of your lifetime! Simply stated, this involves leaving a gift in your will - of an amount whose investments can create a gift for charitable use each year. 

Planned Giving

The key feature of a planned gift is that it allows you (the donor) to benefit, as well as the charitable organization. In giving, you have the satisfaction that comes from knowing you've made a difference in the lives of others. But in fact, the best gift plans also improve the donor's financial and tax situation, often right away.

Living Trust 

A living trust is an arrangement you create during your lifetime to provide for yourself and your family both before and after your death. You transfer assets to fund the trust and select a trustee (even yourself) to manage it.

Charitable Remainder Trust (CRT)

If you're like many investors today, you may own appreciated assets, such as stock or real estate, that you are reluctant to sell because of the significant capital gains taxes you would owe. At the same time, you may be looking to increase your cash flow or diversify your holdings. That would mean selling those valuable assets, paying the applicable taxes and reinvesting at less than the asset's full value. Fortunately, there is a solution to this dilemma.