Robert R. Cawley, D.O.
Dover, NH 03802
Smart gift planning combines charitable intent with cost-efficient planning techniques. Of critical importance is the kind of asset used to fund the gift. Usually, long-term appreciated property can generate the most favorable tax benefits. Reason: Gifts of such property provide a double benefit—a charitable deduction, in most cases, for the full fair-market value of the property—plus avoidance of any potential capital-gain tax.
The chart below illustrates the additional tax savings from a gift of appreciated assets.
|
|
|
Cash |
Appreciated Property |
|
A. |
Fair-Market Value |
$10,000 |
$10,000 |
|
B. |
Cost Basis |
10,000 |
4,000 |
|
C. |
Capital Gain |
0 |
6,000 |
|
D. |
Capital-Gain Tax (15%) |
0 |
900 |
|
E. |
Charitable Deduction |
10,000 |
10,000 |
|
F. |
Actual Tax Savings (24%) |
2,400 |
2,400 |
|
G. |
Total Tax Savings (D+F) |
2,400 |
3,300 |
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Maryellen Burke |
Wentworth-Douglass Foundation Federal Tax ID Number: |
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Disclaimer
For more information about gift planning, contact Maryellen Burke, Chief Development Officer, at 603-609-6207 or Mburke33@mgb.org.
Wentworth-Douglass Hospital & Health Foundation is a 501(c)(3) charitable organization. Gifts are tax deductible to the full extent of the law.
EIN: 51-0491062