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When it Comes to Planned Giving, Cash is Not King!

Posted in Financial Planning

Highly appreciated assets such as real estate, securities or a business interest are better candidates for gifting as they offer a greater tax-play. For example, if an asset valued at $200,000 with $100,000 in basis is sold, the owner realizes a $100,000 taxable gain reducing the net proceeds available to gift to charity.  A better result would be to have the owner donate the asset to the charity which would then sell it without realizing a taxable gain.  Not only would this allow the charity to receive the full value of the asset as a gift but provide the donor with a charitable deduction based upon the full value.

Highly appreciated assets are also ideal candidates for gifting to charitable giving vehicles that provide lifetime income to donors such as Charitable Gift Annuities, Pooled Income Funds and Charitable Remainder Trusts.  In these cases, the full value of the asset can fund the charitable instrument without being subject to taxable gain creating a greater lifetime income stream to the donor(s).

In contrast, cash gifts provide a charitable deduction based upon their dollar value without enjoying any additional tax-play.

 

Review of Income Tax Deduction Rules for Charitable Gifts

Posted in Charitable Planning

This post on the Bryan Cave Life, Death and Taxes blog does a great job of summarizing the key rules for charitable deductions with clear and understandable examples. 

 

Disclosure:  Mark Kluge only offers securities and advisory services through Wall Street Financial Group, Inc. (WSFG), Registered Investment Advisor.  Member FINRA/SIPC.  WSFG and BlueMark Advisors are separate entities, independently owned and operated.

 

Could a Planned Gift Boost Your Retirement Income?

Posted in Charitable Planning

Yes! Some planned gifts can generate annual income to you while leaving the remainder to the charity of your choice after death.   A charitable gift annuity, pooled income fund and charitable remainder trust are such examples. And in the current low interest rate environment, the annual income payment to you from these types of gifting tools might exceed your interest earnings from a certificate of deposit or savings account. Read more »

Does Charitable Giving Lead to Better Health?

Posted in Charitable Planning

This article from the Wall Street Journal reviews a study that suggests more charitable tax subsidies could spur reports of better health.

charitable-giving-helps-your-health

Disclosure:  Mark Kluge only offers securities and advisory services through Wall Street Financial Group, Inc. (WSFG), Registered Investment Advisor.  Member FINRA/SIPC.  WSFG and BlueMark Advisors are separate entities, independently owned and operated.

Blackbaud’s Charitable Giving Report Shows Online Giving Continues to Outpace Traditional Giving as Donors Shift Channels

Posted in Charitable Planning

As noted on Forbes website, Blackbaud’s 2014 Charitable Giving Report shows that while overall charitable giving increased 2.1% in the prior year, online giving grew at over four times that rate, by 8.9%. Although online giving is still a small portion, its rapid rate of growth is something for charitable planners to watch.

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Disclosure: Mark Kluge only offers securities and advisory services through Wall Street Financial Group, Inc. (WSFG), Registered Investment Advisor. Member FINRA/SIPC. WSFG and BlueMark Advisors are separate entities, independently owned and operated.

Securities offered through Securities America Inc., Member FINRA/SIPC. Advisory Services offered through Securities America Advisors, Inc. BlueMark Advisors and Securities America Companies are separate companies. Mark Kluge is licensed to discuss and/or sell securities in the following states: CA, FL, MA, NY, OH. Securities America and its representatives do not provide tax or legal advice; therefore, it is important to coordinate with your tax and/or legal advisor regarding your specific situation. Please see disclosure page for full additional disclosures.

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