Best Charitable Gifts to Make in 2018
With the introduction of tax reform this year that increases the standard charitable deduction you could itemize, you may be looking at your finances and wondering how you can continue to support the charities you love. There are many ways you can make a difference at the University of Florida while enjoying financial benefits for yourself.
Here are some smart ways to give in 2018:
- Donate appreciated stock: With the stock market at or near all-time highs, give your appreciated stocks to a nonprofit, such as the University of Florida Foundation and eliminate capital gains tax.
- Name UF as a beneficiary of retirement plan assets: These assets remain taxable when distributed to a loved one, but are tax-free when given to a charity.
- Give from your IRA (if age 70½ or older): Regardless of whether you itemize your taxes, this gift helps you fulfill your required minimum distribution and is not considered taxable income.
- Gifts of real estate: Many real estate markets are enjoying gains. Appreciated real estate may be subject to capital gains tax unless donated to charity or transferred to a charitable trust.
Talk With Your Tax Professional
Please consult with your tax or financial advisors to determine the best charitable giving strategies for you.
We Can Help
UF is tremendously grateful for your generosity. Please contact the Office of Gift Planning at firstname.lastname@example.org, 352-392-5512 or toll free 866-317-4143 to discuss how your gift can help further UF's missions and students.