NASHVILLE (BP) — In the midst of the tree-trimming, gift-wrapping and caroling, it can be easy to forget about year-end giving. Not only is this the most wonderful time of the year, it is also a wonderful time to consider the many ways to enjoy the tax and income benefits of charitable giving.
When many people think of charitable giving, especially at year’s end, they think of making a cash gift. However, there is another way. It’s called a planned gift.
There are a variety of planned gift options and, in some cases, a planned gift can provide lifetime income to you as a donor while providing a benefit to a ministry and/or your family. Some options are even designed to allow you to plan when the gift is accessible to the charity or your family.
Besides tax deductions, there are many ways a year-end planned gift can bring benefits back to you:
— Charitable gift annuities pay you fixed income for life at a rate based on your age.
— Charitable remainder trusts provide you with income for life or a term of years.
— Gifts of real estate offer tax and income advantages.
— Gifts of stock help you avoid capital gains tax.
The Bible is clear on the importance of giving; Scripture contains more verses on giving than any other area of obedience. Since 1947, the Southern Baptist Foundation has served individuals who desire to provide support for causes through an outright gift, trust, will, deed or gift annuity.
Your year-end gift can go a long way toward helping others as well as advancing God’s Kingdom. As you plan gifts for your loved ones this season, consider making a gift that keeps on giving. Contact the Southern Baptist Foundation — online at sbfdn.org; phone 615-254-8823 — to learn more about end-of-year giving today.
Leigh Anne Bowick is director of communications for the Southern Baptist Foundation.