Generosity in Practice
Looking for some tax-wise approaches to make a difference for ÀÖ²¥´«Ã½? Here are some options to consider before the close of 2025.
- Make sure you’ve taken your . Use your IRA to make a qualified charitable distribution to avoid an increase in your taxable income. You see a tax advantage even if you don’t itemize deductions.Â
- Consider using a With changes to tax law that set a minimum floor for itemizing deductions, you might want to distribute more charitable dollars now. This may allow you to get a tax deduction upfront while distributing funds to ÀÖ²¥´«Ã½ over time. You can also make a future gift to ÀÖ²¥´«Ã½ by of your DAF.
- Set up a to benefit you, your family, and ÀÖ²¥´«Ã½. You will receive an immediate income tax deduction and income for life.
- . You can claim a charitable deduction for the full fair market value of the stock, and you avoid paying any capital gains tax on the appreciation.
Your generosity is more than a tax strategy; it’s a testament to your values and a powerful investment in the ÀÖ²¥´«Ã½ mission. Thank you for your continued support!
To learn more, contact us at giftplanning@bates.edu | 800-762-3145. As always, please consult your financial advisor or tax professional for advice tailored to your personal situation.