Ending the Year Well
The Benefits of Charitable Giving with Stock
If you are like most individuals, the value of your stock and other investments has grown over the years. Perhaps you are entering your retirement years and wondering how you can turn your highly appreciated asset into extra income.
You may also be concerned about the mounting capital gains taxes due. If you sell your stock in today’s market, you will forfeit a portion of the proceeds to taxes and that means less cash for you.
In short, you need a way to sell your stock and avoid capital gains. If you identify with any of these situations, the solution is a charitable stock plan.
A variety of charitable plans can help you achieve your goals for tax savings and even provide income.
IRA Charitable Rollover: A Sweet Choice
“If your IRA is life’s dessert, the thought of being forced to pay taxes on a distribution you would rather not take may leave a sour taste in your mouth. It does not have to.”
There is a sweeter choice. Rather than take the required minimum distribution, call your IRA administrator, and ask them to gift all or part of the RMD to Family Life Radio. Make sure the distribution comes directly to our mission and not to you. When you do, you:
- Do not pay income tax on the distribution
- Satisfy your RMD up to $100,000
You contributed to and saved your IRA all your life. Do not let taxes spoil it. Use your IRA’s RMD to support the cause you love. Replace the disappointment of taxes with the delight of helping others.
Donor Advised Funds
Are you looking for a simple, flexible tool that allows you to manage and maximize your giving to support the causes that matter most to you? Would you like to have the ability to make a single significant gift to support multiple charities? Are you interested in a way to simplify your annual and lifetime charitable giving?
If you answered yes to any of these questions, you should consider creating a donor advised fund (or DAF).
A way for a donor to give to charity over time. The fund is established with a charity and, after a donor contributes to the fund, the donor can make charitable gifts directly from the fund each year. The donor is entitled to take a deduction in the year contributions are made to the fund.
A gift of stock may help you avoid capital gains taxes and wrap up a great holiday season of ministry for Family Life Radio and Intentional Living. This is a very popular method of making significant gifts.
Most U.S. brokerage firms can quickly and easily transfer your gift of stock or
mutual funds to Family Life Communications electronically. The system they use to
make the transfer is the Automatic Customer Account Transfer Service (ACATS). When
you call your advisor to request the transfer of your gift, they will need the following
information about Family Life Communications.
- DTC Participant Number: 0725
- Account Number: 79867423
- Account Name: Family Life Broadcasting
- Receiving Firm: Raymond James
IRA MRD (Minimum Required Distribution) gifts
If you are at least 70 ½ years old and have an IRA account, your Minimum Required Distribution (MRD) can be directed through your financial investment company to the ministry. It must be a direct transfer charitable gift to avoid being figured into your taxable income. Since you never take possession of it is purely a non-taxable gift. It goes straight into God’s work. For more information, please call 800-776-1020.
Home Sale Proceeds
If you sold your home and the net gain on your home sale is greater than $250,000 (individual) or $500,000 (married couple) – the excess above this amount may be donated to your favorite charity and may avoid capital gains taxes. Check with your tax preparer to see if this is a viable option for your financial benefit and stewardship goals. For more information, please call 800-776-1020.
Credit Card, Debit Card, Check
The easiest way to put your gift to work right now is to donate online by using your debit or credit card. If you’d prefer to make your debit or credit card gift by phone, call our ministry services center at 800-776-1060 during west coast business hours.
Contact the Family Life Radio Estate Planning Team today!
Phone: (800) 776-1070
Shannyn Caldwell, Family Life Radio’s Midday Show Host, has a special message.
Watch Matt’s story on how estate planning impacted his life.