Tax Deductible Gifts To Consider
For most of us, financial security is a primary concern, both now and in later
years. It has been said a person who fails to plan plans to fail- a statement as
true for long range planning as for anything else. Your will offers many
opportunities to exercise philanthropy. After providing for your loved ones, a
charitable gift is used to meet your goals as a thoughtful expression of caring
through sharing with a non profit agency. There are so many benefits to
planning, not the least of which is the satisfaction of knowing you have
thoughtfully provided for your loved ones and furthered other important
charitable goals as well.
The giving of financial gifts while living has advantages:
- To mark important events in your life
- To pass on to others what you learned from your family or personal experience
- To express something for which you are grateful
- To give your hopes and dreams for the future
- To influence others in a positive way
- A statement of your commitment to others
- Away to encourage people to support a ministry you believe in
- Away to more than just pass on your wealth, but to also express your
values
- To do something meaningful to others before and after you pass
Good Shepherd Ministries is a charitable agency we trust you will choose. This
is good stewardship of your resources with a reputable charity you can believe
in.
These gifts permit you to have an immediate tax deduction for the tax year when
within the proper guidelines.
The best stocks to donate are those that have increased greatly in value,
particularly these producing a low yield. In order to preserve tax advantages,
it is critical that you transfer the physical securities rather than the
proceeds from a sale.
Taxes can be greatly reduced when you use appreciated stocks, bonds or other
assets to finance your pledge. Tremendous income tax deductions are usually
possible with this method of payment. Contact Good Shepherd Ministries for more
information.
These are a wonderful way to remember someone, both living or deceased. Giving
in a loved one’s name allows their legacy to be remembered and lived through the
changed lives of people. Contact us to make the memorial
You can contribute a life insurance or an IRA policy to us by naming us as either
the owner of the policy or simply as the beneficiary. If you name us as the
owner and beneficiary, you will be entitled to an income tax deduction limited
to the lower value of the policy or your cost basis in the contract. In
addition, if you continue to pay premiums on a policy that we own, you can
deduct the premium payments.
If you own property, this is not subject to a mortgage and has appreciated in
value; a charitable gift may be an attractive option. You can claim an income
tax deduction based upon fair market value of the property, may avoid capital
gain taxes and remove that asset from your taxable estate. Or, you can transfer
your home now and continue to use the property for life. Or you may also specify
a financial percentage from the sale of your home to be designated to Good
Shepherd Ministries. Please notify us of your plans so that we can property
document your intentions.
In a strategy offered by Good Shepherd Ministries, investment-savvy donors give
money to Good Shepherd but can still manage the asset themselves for a period of
time.
You transfer assts to an irrevocable trust and receive a regular payment stream.
At the end of the trust’s term, what’s left is gifted to Good Shepherd. You
receive an income-tax deduction for the amount estimated to end up with the
charity, although the payments to you are generally taxable.
Essentially the reverse of a charitable remainder trust. You transfer assts to a
trust and Good Shepherd receives a payment stream. At the end of the trust’s
term, what is left goes to the heirs.
You give money to Good Shepherd Ministries, which promises to pay you a fixed
amount regularly for life. Although part of the annuity payments is taxable,
you’ll also receive an upfront income tax deduction for the amount estimated to
end up with Good Shepherd.
You give money to Good Shepherd which invests the money in a special fund and
pays you your share of the fund’s earnings. When you die, whatever’s left of
your investment goes to the charitable work of Good Shepherd Ministries.