For gifts of cash, generally you are entitled to an income tax deduction of up to 50 percent of your adjusted gross income, with a five-year carryover period for the excess.
A charitable bequest is a simple and powerful way to support AMIGOS. Tax laws favor bequests, providing a 100-percent charitable deduction for gifts made to AMIGOS through a will or estate plan. Bequests offer considerable flexibility, too, allowing you to tailor your gift so that you and your heirs can reap the greatest benefits. The provisions in your own will depend upon the type of gift you make, as well as your specific circumstances. Your attorney can best advise you about ways to provide for your beneficiaries, and, at the same time, help support AMIGOS’ ongoing efforts.
If you have already included AMIGOS in your will, please let us know so we can thank you.
Publicly traded and closely held stocks, bonds, or mutual fund shares that you have held for a year or longer will receive an additional tax benefit over a cash gift. The IRS allows you to make your transfer to AMIGOS without recognizing capital gains on the appreciation.
You may name AMIGOS as a beneficiary of your IRA, 401(k), or other qualified plan.
We want to accommodate your unique circumstances and are glad to allow installment gifts of up to five years.
Most real estate has appreciated faster than the rate of inflation and offers great potential in charitable gift planning. We would be happy to explore with you a gift of a residence, vacation home, or commercial property. It is possible to transfer ownership of your personal residence to AMIGOS while retaining the enjoyment of the property during your lifetime. This may be an excellent way to support AMIGOS, receive a current income tax deduction for the property’s discount value, and continue to use the property for as long as you live.
You can make a significant commitment to AMIGOS through a life insurance gift. Through relatively modest annual gifts, you can create a major gift. In addition, your annual premiums will be deducted for income tax purposes.
If you own a life insurance policy that no longer serves its original purpose, the policy can be given to AMIGOS. In general, you will be entitled to an income tax deduction for the cash surrender value, and you can deduct the amount of future premiums paid.
A charitable gift annuity is a way to make a gift to AMIGOS and still receive an income for yourself or others. It is a contract under which AMIGOS, in return for a transfer of cash or securities, agrees to pay a fixed sum of money for a period measured by one or two lives.
A gift of personal property enhances our mission and provides tax benefits to you. These can include artwork, antiques, and equipment, or other items of value such as oil, gas, and mineral rights.