The Tax Benefits of a Year End Tradition
As a year nears its end, a number of time honored practices contribute to a unique American tradition of giving. These traditions have a measurable impact on you and your family’s well being. Our federal government recognizes the value of our country’s charitable giving tradition and provides some significant tax benefits when you make a gift to a qualified charity.
Who Benefits by Giving to Sikh Dharma?
Yourself, Your Family, Society, The World.
Your Year End Contribution will Make a Difference
Your conscious tax planning at this time will lead to tremendous benefits for you. At the same time, it will help further realize our vision through the expansion of life changing programs. We will be happy to provide you with additional information about ideas discussed here or a variety of other "Planned Giving options" as you determine the best way to structure your Year End Gifts.
Tithing
The most popular way to make a charitable gift is simply a gift of tithing. Your Dasvandh to Sikh Dharma prior to December 31 could result in some nice cash savings for you at tax filing time. For example, if you make a $2,000 gift before December 31 and are in the 28% margin tax bracket, your gift could save you $560 in taxes! How? The government recognizes the contribution non-profit organizations make to society, and rewards you for making the gift by giving tax deductions.
Bequests
Generally, bequests are not deductible for income tax purposes. However, Sikh Dharma has developed income and estate planning that create current income tax benefits for bequesting. A bequest is totally deductible for federal estate tax purposes, and there is no limit on the amount of the estate tax charitable deduction. In addition, bequests generally are not subject to state inheritance or estate taxes. In a large estate, the tax savings from the bequest can be more than half of the value of the estate. A bequest to Sikh Dharma can be made by creating a new will or adding a clause to your present will.
Seize the Opportunity
Soon 1996 will be behind us and, like you, we will begin a new year anxiously anticipating the opportunities to expand the programs of Sikh Dharma and 3HO. It is by your generosity that we will be able to meet the challenges of tomorrow. Because our continued success depends on you, the people who care about Sikh Dharma and its purpose, we sincerely hope you will take this opportunity to give through a Year End Charitable Gift. Call:(505)753-5881