Estate Planning

MANY BENEFITS ARE AVAILABLE TO YOU
WHEN YOU MAKE A SPECIAL GIFT BEFORE DECEMBER 31

Many individuals are unaware of the substantial benefits available for gifts made at year end.

TAX SAVINGS FROM A CHARITABLE DEDUCTION

You can receive an income tax deduction by giving cash. This is most beneficial to EQUIP. And many times, it is the easiest way for you to give.

But your cash flow may not be sufficient to make the gifts you desire, and to receive the tax deductions you need.

Charitable deduction tax savings are also available when you make gifts of property such as stocks, bonds, mutual funds, real estate, insurance policies, and tangible personal property related to our exempt function.

Avoidance of Capital Gains Tax

The assets you have available for giving may have substantial appreciation.

If you sold the property, you would pay a tax on the difference between your cost basis and what it is worth today. This is called a capital gain, and may be taxed by both federal and state.

However, if you contribute the property rather than selling it, you can receive a charitable deduction for the full value of the property, and avoid the tax on the gain.

Gifts from Individual Retirement Accounts

If you are over 70½, you can transfer up to $100,000 directly from your IRA to a public charity.

The transfer is simple. You do not count it as income, nor do you take a charitable deduction. This means that you can give over and above other charitable gifts.

To take advantage of this opportunity, under current law the transfer must be made by December 31, 2009.

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