Create a legacy of giving and support HALO for generations with a planned gift. 

Watch the video below Presented by Kelli Jones, Senior Advisor with Moneta Group LLC. CPA and Certified Financial Planner (CFP®) to learn how changes in the tax law might impact your charitable giving. She shares strategies to maximize current year tax savings as well as options for leaving a lasting legacy.

Charitable Giving

 

What is your legacy?

Planned Giving

• Simply means planning out your charitable impact during life and beyond
• Enables philanthropic individuals to make larger gifts or achieve specific charitable goals

Why Plan?

• Support more than ordinary income allows
• Plan strategically for income or estate taxes
• Leave behind a legacy that continues on beyond your lifetime
• Include children and grandchildren in the family philanthropic legacy

 

Current Giving Strategies

Tax Changes for 2018

• Fewer taxpayers will itemize deductions
• Standard deduction increases to $24,000

Giving Strategies

• Skipping a year or “bunching” gifts
• Appreciated property
• IRA gifts

 

Skip-Year Giving or “Bunching”

Bunching

• Standard Deduction increased to $24,000 in 2018
• Group together deductions into single year to Itemize
• Take Standard Deduction in “off years” or “skip years”
• Can include cash gifts or any other deductible charitable donations

 

Appreciated Property

Stock or Other Securities

• Current charitable deduction for FMV (if itemizing)
• Eliminates capital gains tax
• Asset should have been held at least 12 months
• Generally easy and quick

 

Other Assets

• Privately held stock, real estate, land, art, cars, and other personal property can also be donated
• Contact HALO directly to begin a conversation

 

IRA Transfers

IRA Qualified Charitable Transfer (QCD)

• Tax-free IRA distribution
• For IRA owners over age 70 ½
• Up to $100,000/year can be transferred tax-free
• Must transfer directly from IRA to HALO
• Counts toward your Required Minimum Distribution (RMD)
• Generally easy and quick

 

Benefits of Giving Now

• Enjoy the impact of your gift
• Claim an income tax deduction
• Remove assets from your estate

 

Planned Giving Strategies

Maximize the Impact of Your Gift

• Give a larger amount than possible from current income
• Leave a lasting legacy

Giving Strategies

• Bequests or Estate Plan Gifts
• Beneficiary Designations
• Life Insurance
• Charitable Gift Annuity
• Charitable Trusts

 

Bequests & Beneficiaries

Bequests or Estate Plan Gifts

• Provision in Will or Trust
• Dollar Amount or Percentage of Assets

Beneficiary Designations

• Life Insurance
• IRA or Employer Retirement Plan
• Designating IRA assets to HALO can provide greater tax savings to heirs compared to non-retirement assets
• Note that naming a charity along with individual beneficiaries can significantly impact other beneficiaries. Talk to your tax or financial advisor for planning.

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Life Insurance

Benefits

• Larger donation, greater impact
• Potential for current tax benefits

Options

• Beneficiary Designation
• Purchase a new policy for HALO and make ongoing premium payments
• Donate an existing life insurance policy

 

Charitable Trusts

Charitable Remainder Trust

• Donor and/or other beneficiaries receive annual payments
• For life or a term of years
• Variable or fixed annual payments to donor
• Remainder passes to HALO
• Current tax deduction for “remainder interest” determined by PV calculation

Charitable Lead Trust

• Trust makes annual payments to HALO
• At end of term, trust assets pass to trust beneficiaries
• Current tax deduction based on PV of income stream to HALO

Charitable Trusts

• Donor has trust drafted by qualified attorney
• Ongoing tax returns generally required
• More expenses compared to other gift options
• Flexibility and tax advantages

 

Gifts to HALO

HALO Foundation Tax ID: 20-1794209

Designate Your Gifts

• HALO Greatest Need
• HALO Kansas City
• HALO International
• HALO Jefferson City

Please contact us for additional collaboration at halo@haloworldwide.org or 816.472.4256.

 

Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.