Appreciated Stock Appreciated Property

Document Sample
Appreciated Stock Appreciated Property Powered By Docstoc
					The idea of Radical Sacrifice is more about your spirit and heart than your wallet or bank account. But one of the greatest measures
of faith is how we give to others. Even now, our church leaders are challenging themselves to find more ways to give more away to those in
need. What we do as a church community begins with each of us as individuals. You may ask yourself, “How do I give more?” The best
way to increase your giving is to walk this path of Radical Sacrifice, where you set your heart on what God wants instead of your own desires.
If focus changes from your own desires to His, financial priorities quickly begin to form from your spiritual priorities.

In 2 Samuel 24:24, David said, “I will not offer to God that which costs me nothing.” He understood the gift that would touch the heart
of God must first touch the life of the giver. This is the spirit behind Radical Sacrifice, “If it is for my God, my gift must have meaning and
value to me!” Here are some ideas about how you might be able to give more, something truly substantial and sacrificial....




Appreciated Stock
Do you have stock holdings which have experienced significant gains? Even in this difficult economy, many people have winning stocks still
in their portfolio. When you donate stock, you can avoid the capital gains tax and increase the impact of your gift. Example: Stock that cost
you $1,000 is now valued at $5,000. By donating this stock to your church, you avoid paying any capital gains tax on the $4,000 that you
would have paid if you sold the stock outright. In addition, if you have held the stock for more than one year, you will receive a charitable tax
deduction for the full value of the stock donated which is $5,000.
                   p To donate stock, describe the holding and approximate value on your Radical Sacrifice
                   giving envelope and contact Stewardship Pastor Chris Lloyd for detailed instructions.
                   If you have a broker, check with the broker for the best means to transfer the stock.
                   Chris can tell you the DTC account and codes you’ll need for the transfer.



Appreciated Property
You can donate to the church vacant land, which you have inherited or purchased or a vacation house. If you have owned the property for
more than one year, by donating it to the church, you would receive a tax deduction for the full fair market value of the property. Example:
You may have a rental house that you have owned and rented for the last 20 years, thus depreciating it to a very low tax basis. If you were
to sell it, you may pay substantial capital gains tax. By donating it to the church you will both avoid the capital gains tax and receive a
tax deduction for the fair market value of the house you donated. Some families save money over a period of years for a special project. A
couple in our church had saved tens of thousands of dollars to build a lake cabin. When we built our Community Life Center, they decided
the needs of the church were greater than their need for a second home.

Property isn’t always real estate. In the past, people have given gold, jewelry, collectibles, cars and more. A young man decided that two
collector’s baseball cards worth over $20,000 he had been holding a number of years would be the most appropriate means of touching
sacrifice for his family. Tax rules are different for different kinds of property, so be sure to check with your tax adviser or attorney.
                   p To donate real estate, collectibles or similar items, describe the item and approximate
                   value on your Radical Sacrifice giving envelope and bring documentation or the actual item
                   on Sunday, Oct. 30, and place it in the offering (or another location if size necessitates).
Contribution From Your IRA
If you are over 70 1/2, you can give a portion of your IRA to your church, and not have to pay income tax on the portion you withdraw. If you
do not need these funds to live on, this could be an excellent way to make a radical sacrifice that lasts a long time.
                      p To give from your IRA, talk to your broker about the best way to make the
                      transfer and contact Stewardship Pastor Chris Lloyd for detailed instructions.


Increase Giving With Increased Income
Some people receive periodic increases in salary or bonuses from their employers. The temptation for many of us is to increase our lifestyle
to fit the higher income. In many instances, families have decided that they will commit the full amount of salary increases.
                      p Place a check in your Radical Sacrifice envelope or give online at www.FBCGiving.com.
                      We’ll have a special card available on Oct. 30 with which you can indicate an online gift.


Commit Unexpected Cash
Often, people ask God to show them a way they can give beyond what they can presently see or afford. Sometimes, the answers come
unexpectedly. One of our members was recently asking God how she could give more. Much to her surprise, she received an inheritance of
several thousand dollars from a distant cousin.
                      p Place a check in your Radical Sacrifice envelope or give online at www.FBCGiving.com.


Redirect Present Expenditures
Part of a radical sacrifice is knowing what you currently do with that you could really do without. That second cup of Starbucks? Premium
channels on cable? That extra day on the ski slopes? Maybe you could run on the beach instead of paying for a gym membership. Make this
a family project, with your children personally involved in the decisions made.
                      p Place a check in your Radical Sacrifice envelope or give online at www.FBCGiving.com.


Practice Priority Budgeting
Many families will choose to rearrange their priorities and give up something in order to give more. Priority budgeting may mean postponing
a planned expenditure such as a new car, vacation, home remodeling, or other major purchases. For some people, creating a budget and
taking a look at what we really spend is the first step toward finding a way to prioritize what goes out every month.
                      p Place a check in your Radical Sacrifice envelope or give online at www.FBCGiving.com.


Take Control of Your Finances
Maybe all these options are overwhelming to you, because you’re trying to figure out how to keep the lights on or pay for your next meal. One
of the purposes of our Radical Sacrifice offering is to enable the church to be more responsive to situations like yours. So the first thing we
suggest is that you let us know of your need, through our Faith in Action office, so we can find ways to help. The immediate next thing we
suggest is that you sign up for the next Financial Peace University course, where you’ll learn to be a strong steward of what God has given
you and find hope for your financial future.
                      p Connect with our Faith in Action community ministries department by completing
                      the form available from our reception desk Monday-Friday. Preregister for the next
                      Financial Peace University course by e-mailing Chris.Lloyd@FBCFL.com.

A tax benefit should never be our motivation for giving, but in reviewing these suggested ways to give please be reminded that as a general rule, a gift of appreciated
property (long-term capital gain property) is deductible up to 30% of your adjusted gross income, and a gift of cash is deductible up to 50% of your adjusted gross income,
with a five-year carryover for any “excess.” In all cases, please consult your tax adviser regarding the tax, financial, and practical implications.

				
DOCUMENT INFO
Categories:
Tags:
Stats:
views:0
posted:6/11/2012
language:
pages:2