Did you realize that if you give us securities worth $850 to you, that you can take an income tax charitable deduction for $1,000? If you have owned stock which has grown in value over the last ten years to $1,000 and if you sell the stock you could pay as much as $150 tax on the long-term capital gain. So, the $1000 is worth only $850 to you. However, if you were to make a charitable gift to Hospice of Dayton® or Hospice of Butler & Warren Counties, you can deduct the full $1,000 fair market share. This is a plus for our organization as we get the entire $1,000 for our programs. A couple of other examples may help you figure out your savings and the charity’s benefit: Let’s say you are in the 30.5 per cent tax bracket and give us $1000, you would have been assessed $305 on your capital gains. If you were in the 39.1 percent tax bracket, you would have had to pay $391 on the $1,000 if you were to sell and use the funds for yourself. Your capital loss can be used to offset some of your capital gains or other income, and you will receive a charitable deduction in the bargain.
If you were considering making any contributions to Hospice of Dayton®, Hospice of Butler & Warren Counties or another charity, you would be wise to complete those plans before the end of this year. If you are interested in a gift of securities, or a major gift to Hospice of Dayton® or Hospice of Butler & Warren Counties, which assures you of a lifetime income and a partial income tax deduction, please call Brenda Humfleet, Hospice of Dayton® Foundation President, at 937-256-4490.