How can I get the maximum tax benefits available through charitable giving?
Gifts of cash are deductible up to 50% of the donor’s adjusted gross income, with a five-year carryover. This compares to just a 30% deduction when giving cash to a private foundation. Gifts of appreciated property are deductible up to 30% of the donor’s adjusted gross income (as compared to just 20% in a private foundation) with a five-year carryover for any excess. Donors receive 100% fair market value charitable deduction for gifts of publicly traded stock, closely held stock, real estate and other long term capital gain property. This compares to private foundations that restrict appreciated property, such as real estate or closely held stock. These items would be subject to a cost basis calculation. Donations to the AACF also allow you to manage potential Estate Taxes and avoid taxes on Retirement Accounts.
