Gifts of appreciated stock and securities are a cost-effective and tax-friendly way to care for those facing the financial burden of cancer. You may be eligible for a tax deduction based on their full fair market value and avoid paying the capital gains tax. Please consult with your financial and tax professionals and then reach out when you’re ready.
If you are 70.5 or older, you are eligible to make a tax-free gift to New Day directly from your IRA called a Qualified Charitable Distribution (QCD). These gifts are tax-free, regardless of whether or not you itemize deductions on your tax return and can lower your taxable income. If you have to take a Required Minimum Distribution, QCDs are one way to reduce the tax liability. Please consult your tax advisor for details.
If you and your family have a private foundation and would like to make a difference in the lives of families facing cancer, please reach out to Lisa Garr at lisa@newdayff.org to explore the possibilities.
If you have a life insurance policy that is no longer needed, you can donate it to New Day, receive a tax benefit, and create a lasting impact. Please reach out Lisa Garr at lisa@newdayff.org to learn more.
Do you have cryptocurrency you’d like to give? Donating cryptocurrency directly to New Day may be tax efficient and may save you money. Please reach out Julie Williams at julie@newdayff.org to learn more.
A charitable lead trust allows you to support New Day for a set period while preserving your assets for loved ones, minimizing estate taxes, and creating a lasting philanthropic legacy. Please contact your financial advisor to explore this opportunity.