Want To Receive A Tax Benefit? Contribute Securities!
Give Securities That Have Appreciated In Value!
Giving stocks, mutual funds, etc. that have appreciated in value can be very helpful from a tax standpoint. If you give appreciated securities directly to Grace Covenant, you will not have to pay capital gains taxes on them - and you will still be able to take a charitable deduction on your income tax return for the total value of your gift. This is a wonderful way of channeling some of your financial resources to support the ministry of Grace Covenant while saving on taxes.
IRA or 401K owners who are at least 70 1/2 and have not yet taken their full required minimum distribution for the year could consider an IRA Charitable Rollover. You can make an end-of-year gift to Grace Covenant by transferring funds directly from your traditional IRA. This way you make your gift with pre-tax dollars. You need to have the institution who manages your IRA or 401K send the money directly from your account.
If this is appealing and you would like to discuss it further, contact Wendy Walsh in the church office at 610.924.7282 today.