ShareThisConnections Holiday 2011
People on the Move:
Year-End Tax Tips for Charitable Giving
If you are like many people, you began this year with a number of resolutions. And like the rest of us, you found some of these resolutions difficult to keep. Why not consider a gift to the International Community Foundation or to a "friends of" charity this year? The good news is you still have time to make a charitable gift that will lower your taxable income, preserving more cash for you and your family. To learn more about fulfilling your year-end goals through charitable giving, please call us at (619) 336-2253 or click today!
Recommended Strategies for 2011:
- Donate stocks and other investments with taxable gains to absorb capital loss carryovers. Check with your investment manager for complete details and transfer deadline.
- Individuals ages 70½ or older can transfer up to $100,000 from an IRA directly to a charity without paying any taxes on the distribution.
- Donate online by credit card. As long as the charge is posted by midnight on December 31, you can deduct it on your 2011 tax return, even if you don't pay the credit card fee until 2012.
