METHODS OF MAKING CHARITABLE
Write a check. If you work for a company that offers a match program for donations, see if you are able to register the AGOC in your company’s program to be eligible for a matching donation.
Pay with credit card.
Consider a Home Equity Loan or Line of Credit from your bank. Essentially, you are borrowing against the equity in your home. The interest on this type of loan may be tax deductible. Check with your tax advisor to insure your personal eligibility to deduct the interest.
Consider donating highly appreciated stock. Donating the stock may allow favorable tax treatment for the appreciated portion of your stock.
IRA transfers – The IRA charitable Rollover is now law. Individuals age 70 ½ and older may make direct transfers up to $100,000 per year from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. The gifts do not qualify for a charitable deduction, but may be counted toward an individual’s required distribution.
Donate an existing whole or universal life insurance policy – if you have one that you do not need or want, donate it to the church and possibly receive an income tax deduction for the cash value.
For more information and request assistance in your donation process please contact us!