-Rwe Tips for Year-End Giving Most people do their major giving toward the end of the year because closing of the tax season encourages itemizers to obtain income tax deductions; a barrage of earnest appeals by nonprofit organizations increases awareness of financial need, and many people are predisposed to end the year by making a charitable gift.
Calculate Get a handle on your tax liability for the year. Did your earned income increase? Did you sell any appreciated Your assets? Will you owe more taxes? That may motivate you Income to increase giving before December 31. You may even want to move some of your giving from next year to create a larger income tax deduction this year. Non-itemizers may find the "grouping of gifts" useful to take advantage of an itemized tax return every other year. By the time you fill out your income tax return, it will be too late to make charitable gifts for the previous year. Do some planning while you still have the opportunity to make a year-end gift.
Review Look at the stocks you have held for more than a year. Which ones have appreciated the most? It may be prudent to make your year-end gift using one or more of these. If you sell the stock, you incur capital gains tax on the appreciation. However, if you give the stock to the Masonic Homes to sell it, no one pays tax. And you get a charitable income tax deduction for the full amount of the stock, just as you would if your gift were cash. If you can't use all of the charitable income tax deduction resulting from the gift, you can carry it forward for up to an additional five years. Such gifts are deductible up to 30 percent of your adjusted gross income.
Your Stocks
Consider a Masonic Homes offers a variety of life-income plans. You can make a gift now, obtain tax benefits and receive Lifeincome for the rest of your life. The Development Office Income has personalized illustrations and printed materials to
Do Your This is especially true to make a gift of noncash GMng assets (stock, real estate, etc.). It also applies to Early
life-income gifts (gift annuities, pooled income fund contributions, trust arrangements, etc.). Your professional advisors and the Development staff at the Masonic Homes are busy as the year winds down. The sooner you can get your gift activity going, the better it will be for everyone concerned.
Talk Before making any significant gift to Masonic To Your Homes, or to any other nonprofit organization AdVisor have your CPA, attorney or other advisor help you to understand the impact of your gift on your income tax return or estate. The Masonic Homes want your giving to be not only generous and joyful, but also with maximum benefit to you. For more information about the year-end giving opportunities at the Masonic Homes, contact the Development Office at (717) 367-1121 ext. 33311 or 1-800-599-6454. Or complete and mail the coupon below. We are here to help you in any way we can.
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0 Gifts of Appreciated Property: A Way to Reduce Taxes
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Use Your Will Power
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How you Benefit by Giving Life Insurance
assist you and your advisors.
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Please send me information about year-end giving
Charitable Remainder TrustsIncome Reducing Gifts
How you Benefit from a Pooled Income Fund Increase Your Income With a Unitrust Financial and Estate Planning for Women Charitable Lead Trust: Pass Assets to Family Tax Free
*0 I have provided for Masonic Homes in my will or
THE GRAND LODGE F.&A.M. OF PENNSYLVANIA Masonic Homes One Masonic Drive Elizabethtown, PA 17022-2199
Second Class
POSTAGE PAID Lancaster, PA 17604-9998 and Additional Offices
other estate-planning document.
This is a wonderful way to use some ofyour assets to help not only yourself, but also to provide needed resources for the Masonic Homes in the years ahead. Name: Address: City: _____________________________ State: _ _ _ _ _ _ __
Zip:
Phone: _ __ _ __ _ _ _ _ _ _ _ _ ____
POSTMASTER: Send address changes to above. Please include complete imprint of address on your postal return dipping
MAIL COMPLETED FORM TO: DEVELOPMENT OFFICE Fred D. Rissinger, Director of Development Masonic Homes One Masonic Drive Elizabethtown, PA 17022
VOLUMEXLUI
NOVEMBER 1996
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