Year-End Tax Savings Options
Take advantage of these tax savings
strategies to boost your financial health.
Consider:
Appreciated Stock
Qualified Charitable Distribution (QCD)
*Planned I Legacy Giving
Donor Advised Fund (DAF)
Donate Now
Invest in the future of Autistic Children and Loved Ones
Ways to Give:
Appreciated Stock. Stock owners can donate highly appreciated stock to avoid paying capital gains tax and claim a charitable deduction on their tax return for the full fair market value of the stock at the time of donation. The most significant key points about donating appreciated stock are the tax advantage and full charitable deduction.
Qualified Charitable Distribution (QCD). A tax-free transfer of money from an Individual Retirement Account (IRA) to a qualified charity. In 2024, the IRS allows individual retirement arrangement (IRA) owners age 70½ or over to transfer up to $105,000 to a charity tax-free. Typically, distributions from a traditional IRA are taxable when received. With a QCD, distributions become tax-free if paid directly from the IRA to an eligible charitable organization such as Hope For Three.
*Planned | Legacy Giving. Donors incorporate charitable contributions into their estate plans often by designating a portion of their assets like real estate, stocks, or life insurance policies to a non-profit organization upon their death, which allows them to receive significant tax benefits while making a large donation to a charity which may not be possible during their lifetime. For the non-profit, Planned Giving provides a reliable source of future funding and helps secure long-term financial stability. The key benefits to Planned or Legacy giving are tax deductions, capital gains avoidance, and reduced estate taxes.
Donor Advised Fund (DAF). A charitable giving vehicle for donors to plan their giving and be more strategic while supporting their favorite charities. Donors can contribute many types of assets, cash, and a wide range of non-cash assets, including stocks, shares of mutual funds, publicly traded securities, private assets, crypto and receive immediate and maximum tax benefits. A donor can recommend grants over time to a qualified charity. DAF’s offer simple, tax-wise, and meaningful ways to manage your philanthropy. Donate now. Decide later.
This information is for general guidance and does not constitute legal or tax advice. You should consult a professional tax, accounting, legal, or other competent advisor before deciding or taking any action. The information may not reflect the most current legal developments. Please contact a trusted and reputable professional for assistance.
Adviser supporting Hope For Three:
https://www.thenoblegroup.com/
Additional Resources:
https://www.nonprofits.freewill.com/
https://igiftfund.org/
Legal Name: Blessed Be Hope For Three, Inc.
(dba Hope For Three)
Address: 4771 Sweetwater Blvd., #358
Sugar Land, TX 77479
*Planned |Legacy Giving. We often use the scenario:
1. Family
2. Charity
3. IRS
Once a donor has maxed out the annual giving for their family, now select one of the two remaining choices for your planned giving.