The Advantages Of Year-End Giving
Sikh Dharma: Your Part
The Advantages of Year-End Giving
Sikh Dharma: Your Part
Development Office
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.
What are the Rewards?
The American legacy of charitable giving impacts each of us in a number of specific ways. The rewards of a giving spirit are immeasurable. Our tax laws provide one measurable example: Generous incentives for charitable gifts include immediate tax deductions, waiver of capital gains tax, improvement in spendable income, and greatly reduced estate taxes and administrative costs.
Because of this and other financial benefits, you may be able to give far more generously than you previously thought possible.
Even a Person of Modest Wealth can be a Philanthropist
Most of us never think of ourselves as philanthropists. When we compare what we think we can do with the size of the task before us, it’s easy to be overwhelmed.
But, because of the generosity of our tax laws, more and more people are creating a lasting impact on charitable organizations they care about.
And though the real rewards of a giving spirit can not be calculated, a little planning can produce amazing measurable results for both you, the donor, and Sikh Dharma.
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. Listed are a few ideas which may help as you consider how you might participate in this year end tradition.
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.
Stock
Gifts of appreciated securities or stock can be one of the most advantageous ways of giving. If you give a stock you have owned for more than one year, you may deduct the full market value of the stock as a charitable contribution, and at the same time, you’ll bypass all capital gains taxes.
Real Estate
Gifts of appreciated real estate are like gifts of appreciated stocks. Assuming you have owned the property for more than one year, you may count the full fair market value of the real estate as the amount of your charitable contribution, while avoiding all capital gains taxes.
Personal Property
Gifts of tangible personal property related to Sikh Dharma’s exempt purposes are fully tax deductible at fair market value. Gifts which do not relate to Sikh Dharma’s tax exempt purposes are limited to the cost basis for determining your 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 1995 will be behind us and, like you, we will begin a new year anxiously anticipating the opportunities to fulfill 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.