Did you know you could make gifts today, enjoy immediate tax and other financial benefits, and retain fixed or variable payments for the remainder of your life or another period of time you choose?
Through the use of a number of special gift planning tools provided by Congress to help Americans give more effectively, you can make significant gifts while providing for retirement, caring for older loved ones, or arranging for funds to meet educational expenses.
Such plans typically feature income tax benefits for the year in which the gift is completed. They can also offer a way for you to converty low-yeilding assests to a source of additional spendable income without incurring capital gains tax at the time of the gift.
You may be able to structure your gift in such a way that a large percentage of the income payments you receive are tax-free or taxed at lower rates than other income.
Because the assets used to fund these types of gifts will ultimately be used for charitable purposes, they are also generally not subject to gift or estate taxes. This may result in substantial savings in addtion to the income and capital gains tax benefits described above.
Through the use of a variety of special purpose gifts vehicles, your assests can provide increased income while you enjoy the satisfaction of knowing you are also making a meaningful charitable gift.
Check with us or your advisors if you are interested in exploring the possibility of giving this way.
More information is available without obligation by sending a request to carol.mccormack@mesaunitedway.org. If you would like a complete brochure including a summary of charitable tax benefits, please call our office at (480)-969-8601 and ask for our 7 Ways to Give Booklet.