Did you know donors give approximately 50% of their donations to nonprofits in the fourth quarter of the year? Laguna Beach Community Foundation is here to support you in effectively managing your end-of-year giving.
Here are a few tips and things to note as the end of the year approaches:
1. In 2016, if you are over 70 1/2 years of age, the TIPA law allows you to make a qualified charitable distribution from your individual IRA. You may make up to $100,000 per taxpayer per year to LBCF. These qualified charitable distributions from your IRA are excluded from your gross income.
2. Receive a charitable deduction for gifting highly appreciated securities to LBCF and avoid paying capital gains. Gifting stock allows you to fulfill your gifting without impacting your liquid assets or paying the capital gains tax you would incur personally if selling.
3. Family/Private Foundations are required to distribute a portion of their fund every year. Open and populate a Donor Advised Fund to meet the required annual distribution and allow yourself the ability to distribute funds at a later date to any qualified 501(c)(3).
4. Looking to reduce your taxes? Open a Donor Advised Fund. It's a flexible, easy and smart way to manage your philanthropic giving while transfering the administrative duties over to the Laguna Beach Community Foundation.
We are here to assist you in realizing your philanthropic goals. If you have any questions, please feel free to reach out to Laguna Beach Community Foundation by calling 949-715-8223 or via email at [email protected].
Here are a few tips and things to note as the end of the year approaches:
1. In 2016, if you are over 70 1/2 years of age, the TIPA law allows you to make a qualified charitable distribution from your individual IRA. You may make up to $100,000 per taxpayer per year to LBCF. These qualified charitable distributions from your IRA are excluded from your gross income.
2. Receive a charitable deduction for gifting highly appreciated securities to LBCF and avoid paying capital gains. Gifting stock allows you to fulfill your gifting without impacting your liquid assets or paying the capital gains tax you would incur personally if selling.
3. Family/Private Foundations are required to distribute a portion of their fund every year. Open and populate a Donor Advised Fund to meet the required annual distribution and allow yourself the ability to distribute funds at a later date to any qualified 501(c)(3).
4. Looking to reduce your taxes? Open a Donor Advised Fund. It's a flexible, easy and smart way to manage your philanthropic giving while transfering the administrative duties over to the Laguna Beach Community Foundation.
We are here to assist you in realizing your philanthropic goals. If you have any questions, please feel free to reach out to Laguna Beach Community Foundation by calling 949-715-8223 or via email at [email protected].
