Tax Benefits of Year-End Giving

With the December 31 deadline for tax-deductible gifts in sight, now is the perfect time to think about making charitable gifts. Giving at the end of the year can be an opportunity to tithe from a work bonus, catch up on giving for the year, bless others, and benefit from attractive tax deductions. These gifts provide the opportunity for you to make a difference in others lives, show generosity, and support a need within your church or community.

Once you think of a charitable cause, determining what to give, and what makes the best type of gift, is the next step. You might want to consider one-time gifts, legacy gifts, and the tax ramifications for your gift. Choosing a gift that best fits both your needs and the needs of the organization doesn’t have to be difficult; we have outlined some of the most popular ways to give, and their benefits, here.

Ways to Give

A one-time gift of cash, stocks, bonds, real estate, or personal property can offer immediate tax deductions while charitable gift annuities offer deductions over a longer period.

Charitable gifts of stocks and bonds*, real estate, and personal property can be given at any time. When donating these gifts, an immediate tax deduction is available for the market value of the asset(s), which gives you the opportunity to see your gift working now to help the current needs of the church.

If you are looking to make a gift that will provide you with current or future revenue, you may want to consider a charitable gift annuity or charitable remainder unitrust. These types of gifts will provide you with revenue for life, and the remainder will transfer to the church at the time of your passing.

If you would like to speak with one of our professionals about what type of gift will benefit you and your church the most, call us at 334-793-6820 or email us at [email protected]. We will be happy to assist you through the gift planning process.

*Before gifting stocks and bonds, please complete and send in the Security Transfer Form (alwfumf.org/resources) to P.O. Box 8066, Dothan, AL 36304.