Live Now, Give Later – Best Charitable Gifts to Make in 2018
With the introduction of tax reform this year, you may be looking at your finances and wondering how you can continue to be charitable. There are many ways you can continue to support the wild things and wild places you love, while enjoying financial benefits for yourself.
Here are a few smart ways to give in 2018:
- Donate appreciated stock: With the stock market near all-time highs, give your appreciated stocks to a nonprofit such as Texas Parks and Wildlife Foundation and eliminate capital gains tax.
- Name a charity as a beneficiary of retirement plan assets: These assets are taxable when distributed to a loved one but are tax-free when given to a nonprofit such as Texas Parks and Wildlife Foundation.
- Give from your IRA (if 701/2 or older): Regardless of whether you itemize your taxes, this gift helps you fulfill your required annual minimum distribution and is not considered taxable income.
- Gifts of real estate: Many real estate assets are appreciating in value. Learn how you can use real estate to support Texas Parks and Wildlife Foundation and enjoy benefits such as eliminating capital gains tax or continuing to use the property.
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If you have already included a gift to Texas Parks and Wildlife Foundation in your will or trust, please let us know. That way we can ensure that your gift will be used exactly as you intend. With your permission, we would also like to welcome you to the John Graves Legacy Society.
This information is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
