CARES Act Expands Tax Deductions for Charitable Giving
New Gifting Opportunity for Non-Itemizers
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Deferred Gift Annuities
- Lifetime income when you need it
- Flexible start dates
- Immediate tax deduction
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Did you know there are creative ways to support Pomona College? Ways in which Pomona College, you and your loved ones all benefit at the same time?
Such giving techniques are called "planned gifts," because with thoughtful planning, you create win-win solutions for you and Pomona College. For example:
- You can make a gift that costs nothing during your lifetime.
- You can give stock and realize larger tax savings.
- You can get a monthly paycheck for life in return for your gift.
- You can donate your house, continue to live there, and get a tax break all at the same time.
- You can make a gift that protects your income as you age, insurance for your longevity.
There is a powerful way to pass assets to your heirs at a significantly reduced gift and estate tax cost, and provide years of income to Pomona College.
It's called a charitable lead trust, and if estate preservation is a planning priority for you it is definitely worth looking into.
How does it work? You transfer appreciating assets into the lead trust; the trust pays Pomona College income for a term of years; at the end of the term the balance of the lead trust passes to your heirs. Gift/estate tax on the transfer is reduced by the value of our income interest. The trust can even be set up to reduce your gift or estate tax liability to zero.
Best of all, your heirs pay nothing in capital gains tax on any appreciation in the assets that occurs during the term of the lead trust.
Read more... , email us, or contact us at (909) 621-8143 or (800) 761-9899.