What Can You Do to Support BCS?

If the stock has increased in value from the time of purchase and has been held for more than one year, the owner can avoid paying the capital gains tax by donating the security to another party. When the security is being donated to a charitable organization, the total amount will still be eligible for a tax deduction. Please contact Jenny Ketterhagen, to ensure that the sale will run smoothly, and you are credited for your donation.

This is an arrangement in which the donor gifts real estate while retaining the right to live there for the remainder of his/her life. The property must be mortgage and obligation free. If the donor is itemizing deductions, the donor receives an immediate income tax deduction equal to the present value of the remainder that will pass to the charity. The charity may sell the property upon the donor’s death.

If you are 70 ½ or older, you are required to take IRA minimum distributions annually. You can now make direct tax-free distributions to charities while satisfying your required withdrawal. You can transfer up to $100,000 annually directly from a traditional or Roth IRA to a qualified charity without undesirable tax effects.

Name Burlington Catholic School as a remainder charitable beneficiary of a trust or will.