Planned Giving
With thoughtful planning, you create win-win solutions for you and FREE.
Itemize, give stock, and make sure that you are talking to your advisors and us about supporting FREE through the best giving vehicles for you!
First, the new tax law still allows you to deduct charitable gifts and raises the cash gift deduction ceiling to 60%* of your adjusted gross income. While the law is intended to reduce your incentive to itemize by increasing the standard deduction, (for single filers, the standard deduction jumps to $12,000; for married couples filing jointly, $24,000), it also reduces many people's deductions for mortgage, real estate and state and local tax deductions.
*100% for 2020. See CARES Act.
That means that charitable gifts may be even more beneficial for many people to balance their tax burden with their take-home income, especially giving through one's retirement plan.
If you are facing uncertainty as you approach giving in 2024, let us help!
Finally, a simple bequest allows us to continue to do the work you love for years. Ask us how a bequest, or beneficiary designation gift today can make your impact last forever. A retirement plan beneficiary designation gift is easy, doesn't require an attorney to accomplish and allows you to leave other assets to your loved ones without the tax implication of leaving your IRA to them.
What's best? It is a gift that costs nothing during your lifetime!
For more information, please contact us and we will be glad to assist you.