Cash
Cash (either through online giving by credit card or by checks payable to The Leukemia & Lymphoma Society) is the simplest donation and provides immediate benefits.  The IRS allows you to claim charitable deductions for gifts of cash up to 50 percent of your adjusted gross income if you itemize deductions.  If you cannot use all of the deduction in one year, you can carry over the remainder for the next five years.   More

Investment Assets
Using appreciated investment assets (stocks, bonds, mutual funds) can be a tax-wise way to make a gift.  If you have an appreciated security that you have owned for more than one year, you can deduct its current market value, regardless of your original cost.  Further, no capital gains tax is due on the appreciated amount.  So your gift of appreciated securities can cost you less than a comparable gift of cash.  More

Retirement Plans
Smart planners use taxable assets for individual beneficiaries and tax-deferred assets -  such as an IRA, 401(k), 403(b), Keogh or SEP - for charitable giving.  Because most retirement plans are tax-deferred, the value will be significantly reduced when income taxes become due to children who are named beneficiaries. Or, if left to a spouse, taxes can be initially avoided with a rollover, but become due at the spouse's death.  As an alternative, leave other resources to heirs and name one or more charitable beneficiaries in your retirement plan so that 100 percent of your gift intention is fulfilled.  More

Life Insurance/Insurance Annuities
There are multiple ways to use insurance for charitable giving.  The simplest is to designate a charity as a revocable beneficiary of a policy or insurance annuity.  Although there is no immediate tax benefit, it is easy, you retain the assets as long as you live, and there are no legal fees involved.  More

Real Estate
Similar to a contribution of appreciated stock, a real estate gift qualifies you to deduct the full market value of the property and avoid capital gains on the profit.  It can also provide a meaningful reduction in your taxable estate.  More

Gifts of Closely Held Stock
If you own shares in a closely-held business, those shares can be used for charitable giving.  More

Copyright © 2008 by R&R Newkirk. All rights reserved.

Life Insurance Annuities - Information on designating The Leukemia & Lymphoma Society as beneficiary for life insurance annuities.

Real Estate - Information on designating LLS as the recipient of gifts of residential, commercial or undeveloped real estate.

Gifts of Closely Held Stock - Information on naming The Leuekemia & Lymphoma Society as benefificary of gifts of closely-held stock.

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