Tax-smart Ways To Maximize End-of-year Giving
Ira Charitable Rollover
1. If you are age 70½ or older, you can transfer up to $100,000 directly from your IRA to Gelt Charitable Foundation, Inc. tax-free.
2. This counts toward your Required Minimum Distribution (RMD) and is not taxable as it may reduce your Adjusted Gross Income (AGl), even if you don't itemize.
3. Distribution must come directly from the IRA and be RECEIVED by Gelt Charitable Foundation, Inc by December 31. This can be done electronically in a matter of hours.
Use Appreciated Assets (Stocks)
1. Receive an immediate income tax deduction based on the full, fair market value of the securities.
2. Avoid paying capital gains tax on appreciated securities held for more than one year.
3. Conversely, built-in loss assets generally should be sold (generating a tax loss) with the resulting cash proceeds donated, if desired. Note that, as in previous years, up to $3,000 of capital losses may be used to offset ordinary income.
Donate Appreciated Real Estate, Vehicle Or A Vacation Home
1. Avoid paying capital gains tax on the sale of real estate.
2. Receive a charitable income tax deduction based on the value of the gift.
3. Enjoy your home for as long as you wish or for the remainder of your lifetime.
Any way you cut the cake, please maximize your community investment! Keep Gelt Charitable Foundation, Inc in mind in your year-end contributions and the entire community will benefit from your kindness for eternity!
Address:
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
Donations:
Please mail checks to:
The Gelt Charitable Foundation
6401 Congress Ave, Suite 215
Boca Raton, FL 33487