ABOUT BEQUESTS

You may be looking for a way to make a significant gift to help further the mission of your favorite charity. A bequest is a gift made through your Will or Trust. It is one of the most popular and flexible ways that you can support the cause that matters the most to you.

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CHARITABLE GIFT ANNUITY

A charitable gift annuity is a great way to make a gift to your favorite charity. With this vehicle, you can gift your cash or property to your favorite charity and they will promise to make fixed payments to you for life at a rate based on your age.

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IRA CHARITABLE ROLLOVER

An IRA rollover allows people age 70½ and older to reduce their taxable income by making a gift directly from their IRA.

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Bargain Sale

Do you have property that you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale might be the right strategy for you.

Bargain Sale
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Charity
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Benefits of a bargain sale

If you are considering selling your property, a bargain sale will help you meet all of your goals.

  • Avoid capital gains tax on your charitable gift.
  • The deduction from your gift will give you valuable tax savings that may reduce your tax bill this year.
  • With the cash received from the sale, you may then reinvest to create more income for your future.
  • Best of all, your gift will help your favorite charity further its work.

How a bargain sale works

  1. You sell your favorite charity your property for a price less than fair market value.
  2. You receive the cash from the sale and a charitable deduction for your gift to charity (the difference between the market value and purchase price).
  3. While you may owe some tax on the amount you receive from the charity, the charitable deduction from your gift could offset your taxes this year.

More on bargain sales

A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.

Contact us

If you have any questions about a bargain sale, please contact us. We would be happy to assist you and answer any questions you might have.

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