So what can you do to preserve your financial benefit to giving?
Here are a few ideas:
Potentially make a larger gift and save more on your taxes. With a gift of long-term appreciated securities including stocks, bonds and mutual funds, you may avoid long-term capital gains tax. If you’re holding securities with a loss, you may be able to sell, take the capital loss and donate the proceeds to charity. Consult with your tax professional on what would be best for you.*
Donate directly from the Required Minimum Distribution from your tax deferred retirement account once you reach the age of 70 and a half. The income you must start drawing down at that age is taxable, but it can be directed to a charity and you can avoid the additional tax. Your 401K or IRA trustee can set this up for you.
Your gift is so meaningful to Park School. We hope these tips can help you maximize your charitable giving. With your support, Park will continue to prepare students to be passionate, caring, and creative learners who will thrive in college and in life
Please contact Director of Development Carolyn Hoyt Stevens to discuss your charitable goals. Click here
to send an email or call 716-839-1243 x104.
Many thanks for your support of The Park School!
*If you’re making a gift of stock, please let us know! We can ensure a smooth process and timely acknowledgment when you notify us of a pending transaction.