Giving to the Church
Online Giving: Click here to be directed to the secure site.
Year End Giving
Many people find the end of the year a particularly good
time to make donations to charity. In
addition to cash gifts, many people consider gifting appreciated assets. Gifts of appreciated assets provide a tax
advantage to the giver. While taxes
should not be the prime consideration for giving, the wise steward, certainly
can leverage their gift to maximize the size of the gift, within the tax
code. As an example, if an individual
were going to make a $10,000 gift in cash, they would be able to deduct that
$10,000 gift from Adjustable Gross Income when itemizing deductions. A stock purchase at $5000 that had
appreciated to $10,000 would subject the investor to Capital Gains taxes on the
$5000 gain. Gifting that stock directly
to charity would result in no Capital Gains Tax liability to the individual, but
would result in the same $10,000 deduction of the market value of the
gift.