Tax Efficient Giving Information
As you consider your annual giving at year-end, please be aware of ways to be more tax efficient in your gifts.
Publicly traded securities that have increased in value—such as stocks, bonds, mutual funds, or ETFs—can be donated to the PCA Foundation’s Advise and Consult Fund. You can direct the proceeds to come to Hope Presbyterian Church and receive tax credit for the value of the securities as of the date you donate them. You will not be subject to capital gains taxes on the appreciated value. Current-tax-year deductions of appreciated securities are limited to 30% of adjusted gross income, though a five-year carryover period is allowed.
For more information, please see: https://pcafoundation.com/individuals/advise-consult-fund/
Anyone over the age of 70 ½ should know that they can make a qualified charitable distribution from an IRA as all or part of the annual Required Minimum Distribution. The charitable distribution will not be included in taxable income, so that it may help reduce taxes on Social Security benefits received. The IRA trustee must make the contribution directly to the charity. For further information, see Elder Jason Method, and consult with your financial or tax advisor.