Best Assets for Giving

Cash is a frequently used asset for all forms of charitable gifts and provides the most immediate deductions. Every dollar you give will be deductible up to 50% of your adjusted gross income, if you “itemize.” Excess deductions can be carried over and deducted in up to five future years. A $1,000 contribution saves $350 for a person in the 35% tax bracket, $250 for someone in the 25% bracket. Tax savings are not the reason friends support our endeavors, of course, but they do enable supporters to do more than they might have thought possible. But the results may be better if you give investment assets that have gone up in value.