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What You Can Give
Gifts of Cash
Cash is the simplest way to give. Cash gifts are fully deductible in the year in which they are given, up to a maximum of 50% of your adjusted gross income. Any portion you cannot deduct in the year that the gift is given can usually be carried forward for up to five additional years.
Gifts of Stocks (and other appreciated securities)
Appreciated stocks offer tax savings by avoiding capital gains taxes and receiving a tax deduction for the value of the stock on the date of transfer. In most cases it is more prudent to donate the actual investment certificate. However, if you have stock losses, generally you should not contribute the stock itself, but rather sell the stock and realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction.
Gifts of Real Estate (and other tangible property)
If you own property that is fully paid off and has appreciated in value, an outright gift may be the simplest solution. You can deduct the fair market value of your gift, avoid all capital gains taxes, and remove that asset from your taxable estate.
Gifts of Retirement Plan Assets
Did you know that nearly half your retirement plan assets can be eaten away by taxes at your death? You may designate Tabernacle Baptist Church as a beneficiary of your retirement plan and significantly reduce your estate and income taxes.
Gifts of Life Insurance
Life insurance no longer needed for your family's security may be given to Tabernacle Baptist Church, providing a current tax deduction for the cash value of the policy. You can donate a life insurance policy to Tabernacle or simply name the church as the beneficiary.
If you would like more information about planned giving at Tabernacle, contact Dr. Bruce Minett - Executive Associate Pastor. He will be happy to speak with you.
Disclosure:
The information in the planned giving section of Tabernacle's web site is not designed to act as legal or financial advice. While Tabernacle Baptist Church is glad to provide general information, this information should be reviewed by professional, financial advisors prior to any action.
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