Tax-Wise Giving

Gifts of Stock
With recent gains in the stock market, it may be an excellent time to gift appreciated stock or mutual funds you have held for more than a year. These gifts often provide a two-fold tax advantage—bypass of capital gains and a tax deduction for the full fair market value of the stock on the date given.

Gifts from IRA
If you are age 70½ or older, an easy way to make a generous contribution is to give up to $111,000 free of federal taxes directly from your IRA. Your gift may also qualify as part of your Required Minimum Distribution (RMD).

Gifts of Real Estate

Real estate gifts such as a primary residence, vacation home, farm or other acreage may be an excellent way to reduce taxes. When given outright, you can often avoid capital gains taxes and receive a charitable deduction for the full fair-market value of the real estate.

Donor Advised Fund

If you have already established a Donor Advised Fund for tax purposes, you can recommend a gift from your account to help local children with medical needs. Simply request that a check be mailed to Children’s Miracle Network at CoxHealth.

Gifts of Life Insurance

A life insurance policy that is no longer needed can serve as a great charitable gift. In addition to making a sizeable gift to help children in the Ozarks, there are often tax advantages to donating life insurance depending on the type of policy contributed.

Life Income Gifts

A life income gift can allow you tax advantages by giving cash, stock or other property now and allowing you (or others) to receive income for life or for a specific number of years. Many times a life income gift is made through a “charitable remainder unitrust” or a “charitable remainder annuity trust.”

Life Estates

You can donate your home or farm now without having to vacate the property or give up any of the current benefits you now enjoy. You may receive a substantial tax deduction and avoid capital gains taxes if the property has appreciated.

Bequests

While considering your 2024 tax-saving options, you may also want to review your long-term tax-saving plan. Whether you need to establish a “personal will” or “living trust,” or you need to update your estate plan, it is easy to include Children’s Miracle Network at CoxHealth as a beneficiary.

The Ellen Burge Legacy Society

Become a member of The Ellen Burge Legacy Society by including your Children’s Miracle Network at CoxHealth and/or the CoxHealth Foundation as a beneficiary in your will, trust, or estate plan. Sign up by the end of 2024 to become a charter member! Click to learn more.