April 11, 2017

It’s that time of year again when taxes are on everyone’s mind. Many things you might consider a burden can be used to your advantage. There are several charitable planning strategies that can help you lower your taxable income and taxes owed. Here are some ways you can shift tax dollars to become charitable dollars and support Texas A&M.

IRA Charitable Rollover – Persons age 70½ or older can rollover up to $100,000 from their Individual Retirement Account to a qualified nonprofit. This gift will satisfy your required minimum distribution (RMD) for the year and can reduce your taxable income, even if you do not itemize deductions.

Outright Gift of Securities – Make a gift of stock, bonds or another asset and receive a tax-saving charitable deduction. By making a gift of appreciated securities, you may avoid paying capital gains tax that would otherwise be due if you sold these assets.

Gift and Sale – Make a gift of part of an investment or property you intend to sell and avoid paying capital gains tax on a portion of the sale.

Gift Annuity – Transfer your high performing, highly appreciated stocks to fund a charitable gift annuity or charitable remainder trust in exchange for our promise to pay you fixed payments for the rest of your life. In addition to receiving income for life, you will also receive numerous tax benefits. You can also establish a deferred gift annuity, take your charitable deduction now and then plan to receive payments at a designated future time. 

Contact us to learn the many ways you can increase your income, save taxes, benefit the people important to you, and support Texas A&M. Unsure about which method of giving is best for you? Request our FREE book, Provide and Protect, which will provide you with choices on how you can provide for your loved ones, receive tax benefits, generate potential retirement income and support Texas A&M at the same time. 

The information provided in and accompanying this article is intended for informational purposes only. It is not intended as legal or tax advice. You are encouraged to consult with your attorney for assistance in drafting the necessary documents to make a charitable gift.