Ways To Give To Hospice
A gift of securities can be very tax wise. Appreciated stock or mutual funds held long term can be given to Hospice and without generating any capital gains tax. The full fair market value is available to Hospice to support our mission. Not only do you avoid capital gains tax, but you are also entitled to a charitable income tax deduction for the full fair market value! This amount can be deducted up to 30% of your adjusted gross income in the year you make your gift. Any excess can be carried forward for up to five additional years.
Naming Hospice of the Bluegrass, Inc. as a beneficiary in your will, trust, life insurance, or retirement plan truly provides a lasting legacy. Planned gifts provide the long-term support that is so critically needed to ensure that quality care will be provided for future generations. Individuals making planned gifts are recognized as special contributors and are included in the Sara Kaufmann Society. Of course, requests for anonymity are honored. If you make a planned gift, please let us know so that we may thank you for your foresight and generosity.
Charitable gift annuities and charitable remainder unitrusts are two excellent ways to support Hospice and receive income for your lifetime(s). For example, you can enter a charitable gift annuity with Hospice and receive an income tax deduction for a portion of your gift and receive lifetime fixed income at very attractive rates. You can choose to receive income now or defer it until retirement. Gifts of stock or cash are accepted (minimum value of $5,000). If you have real estate or prefer a variable rate of income, we can work with you to set up a charitable remainder unitrust that provides quarterly income. These gifts can help you achieve your financial, as well as your philanthropic goals.
Consider a gift of real estate that has been held more than one year and has appreciated in value. Gifts of vacation homes, vacant land, personal residences, and even commercial property are accorded the same tax advantages as the securities described above. A qualified appraisal is required by the Internal Revenue Service to substantiate your income tax deduction.
You may also donate a personal residence or farm and retain the right to live on and use the property for a term of years or the rest of your lifetime. This arrangement, known as a retained life estate, allows you to deduct a portion of the fair market value on your income taxes and removes this asset from your taxable estate, thus reducing estate taxes.
Hospice patients and families have many needs. Air conditioners, medical equipment, linens, etc. are needed from time to time. We have a Thrift Stores in Hazard for donations of household items and clothing as well as for your shopping pleasure! For more information call: The Hospice Nearly New Shop in Hazard at (859) 436-6729.
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