Strategic Lifetime Giving
Distributions from certain pre-tax accounts, such as those shown below, create taxable income to the account owner. When distributions bypass the account owner by distribution directly to a qualified charitable organization (501(c)(3)), the distribution is excluded from the owners reportable income. We encourage you to visit with your financial and tax advisors for further information.
- Traditional IRA, Simple & SEP IRAs, 401(k), 403(b) and 457 Plans.
Have a desire to make a sizable, tax-deductible charitable donation, but prefer to retain some control over when your charities receive funds? A DAF may be your ideal solution. This allows you to make an irrevocable charitable donation into an account specific to you/your families charitable desires. From this account, you guide when and how much your ultimate charitable organizations receive funding. Contact your tax professional to learn how this strategy may fit into your plans.
Securities that have appreciated in value may include stocks, mutual funds and ETFs. When sold by the owner, a capital gain is realized and taxes may be incurred. When shares are donated in-kind to a 501(c)(3), the market value of the security can be deducble to the owner while the capital gain is not realized or taxable. Please speak with a qualified tax professional for more details
CCRC recognizes the unique operating structure of our donors in the agriculture industry, and we welcome with gratitude the delivery of these non-cash donations to area exchanges. Please contact us prior to delivery as most sale barns, co-ops and elevators require a TIN and organizational party to be on file prior to remitting payment.
More extensive disclaimer to seek professional guidance from a qualified accountant, advisors and/or legal counsel.
PREFER TO GIVE A GIFT?
Every gift stays right here in Reno County.
However you choose to pitch in, it lands with a neighbor who needs it. Thank you for being part of the thread.