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Cash - Your gift of cash to Athens Bible School prior to December 31st could cost you much less at tax filing time since it qualifies for a charitable income tax deduction for those who itemize their tax returns.
Gifts of Securities - Stock, bonds and mutual funds can be the easiest and most advantageous gifts to make. A simple call is required to your broker. If the stock is one you have owned for more than one year, you may deduct the full fair market value of the stock as a charitable contribution, while bypassing applicable capital gains taxes if the stock has appreciated.
Matching Gifts - Remember your business/corporation. Check to see if they have a matching fund program. This is an excellent way to double your gift.
Designate in your Will - Designate at least $1000 to be given to ABS at the time of your passing and Athens attorney Landy Raley will write your will at no charge. Appointment is necessary.
Gifts of Real Estate - Similar to gifts of appreciated stock. If you have owned the property for more than one year, you may deduct the fair market value as a charitable contribution while bypassing all capital gains taxes.
Life Insurance - Another special gift option is life insurance that can be donated in one of two ways: by naming ABS as beneficiary of a policy or as sole owner and beneficiary. The first option does not qualify for an income tax benefit, but if you should decide to name ABS as the sole owner and beneficiary, income tax benefits are available.
With a Gift Annuity - You (and/or someone you designate) receive fixed payments for life at an attractive rate, based on your age(s). You may also defer the payments until a future date; this usually provides a higher annual payment to you. You receive a tax deduction the year the gift is made, plus taxfree return of principal. Applicable capital gains tax is deferred if the gift annuity is funded with appreciated assets and there are no fees, as with commercial annuities.
Charitable Remainder Trust (CRT) - This is a trust that can allow individuals to make a current gift of cash or assets to the trust, while retaining an income stream during their lifetime. An Irrevocable Life Insurance Trust is frequently used to fund the insurance policy. This removes the insurance proceeds from the estate, therefore avoiding federal estate taxes. In many cases, both the husband and wife are insured in a special type called two-to-die plan. This allows an easier insurability for both while providing long term protection for heirs of the estate.
Athens Bible School has been supported through the decades by individuals who realize the value of giving so the school can continue to shape young minds and souls. You have the opportunity to continue this rich tradition by allowing your estate to become a permanent part of the Athens Bible School legacy. By utilizing this method of estate planning, you can assure the future of ABS regardless of the size of your gift. Your support of Athens Bible School will be reflected in the fine young people who will have an opportunity to enjoy and benefit from a school that has contributed so much to our local and spiritual community over the years.
Thank you for considering Athens Bible School in your estate planning.
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