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The Choice of What to Give

Cash: A Popular Gift  
The United Way of Brazoria County commonly receives gifts in the form of cash, checks and by way of payroll deductions. Cash gifts are convenient for many people and are easily recorded through canceled checks and receipts. It is important to save all receipts to assure maximum tax savings.

Non-Cash Gifts: Surprising Savings  
United Way of Brazoria County supporters often choose to make their gifts in forms other than cash. Examples include: 

After considering the properties you own, you may find giving something other than cash to be an appealing alternative. Giving non-cash property enables you to help United Way while conserving cash for other uses and enjoying what may be greater tax savings than those provided by gift of cash.

Giving Appreciated Property: Securities  
If you have non-cash property, such as stocks and mutual funds, that has grown in value (appreciated) and has been held long-term (currently more than one year), you can generally enjoy greater tax savings from giving such property than from giving an equivalent amount of cash. That’s because a gift of long-term appreciated property does not generate capital gains tax, which you could be due if you sold the property. You also receive a charitable deduction for the property’s current value, including the amount of any increase since you have owned it.

Giving Depreciated Property: Securities  
If you have stocks or other properties that have decreased in value, you will normally benefit more by selling them and giving the proceeds. You may be able to claim a capital loss on your tax return. You can also deduct the cash proceeds you give as a charitable gift. The results can be to enjoy tax deductions that amount to more than the current value of the asset.

Using Your Home as a Gift
The most valuable single asset many people own is their home. Have you ever considered using it to fulfill your giving desires? Did you know there is a way to give your house while continuing to live there as always?

Using what is known as a life estate arrangement, you make a gift of your home or other appropriate property now but retain the security of knowing you may live there as long as you wish. You also retain all the rights and responsibilities of ownership.

You receive a charitable income tax deduction for part of the value of the property immediately.

You continue to take care of the property, pay the taxes, and even receive any income it generates. But because you have made a gift of the property by deed, it does not pass through your probate estate at death, possibly saving unnecessary expenses and avoiding delays. The property will also not be part of your estate for federal tax purposes, resulting in what may be a significant tax savings for your heirs.

Send mail to kdemland@uwbc.org with questions or comments about this web site.
Last modified: June 25, 2008