“I want to sell appreciated property, but I’m concerned about capital gains taxes. How can I eliminate or reduce my taxes?”
Giving all or part of the asset to charity will eliminate or reduce capital gains taxes, will create a tax deduction, could continue or begin to provide lifelong income and will provide satisfaction about supporting a favorite charity.
“I manage a rental unit that provides needed income, but it’s too much work. What do you advise?”
Using the rental property to fund a charitable remainder trust will secure lifetime income (perhaps more than from the rental property), relieve the burdens of ownership, eliminate the capital gains tax, create a sizeable tax deduction and ultimately support a favorite charity.
“I have no children, and it’s time to write a will.”
How does your client want to be remembered? You can suggest a charitable fund at the Foundation as a way to support the causes they are passionate about in perpetuity.
“I have a large retirement fund, but I’m worried that my children will receive only 20 or 30 cents on the dollar.”
Using a retirement fund to create an endowment will reduce estate tax, eliminate income tax on the IRA distribution, and create a family legacy. Other assets can be used for gifts to family members.
“I have a longtime employee (or friend, sibling, or parent) I’d like to help.”
A life-income gift, such as a charitable gift annuity, will assure the friend or family member a lifetime income—and allow your client a tax deduction and support of a favorite charity at that person’s death.
“I’ll be receiving additional income this year. I’d like to give some to charity, but I’m not sure which one.”
A donor-advised fund will earn a tax deduction for the current year and allow time to choose a charity. With expertise on the nonprofit community, Foundation staff can connect donors with organizations in their areas of interest and provide opportunities for donors to co-fund projects with the Foundation.