With the introduction of tax reform this year, you may be looking at your finances and wondering how you can continue to be charitable. You can still make a difference to Sandy Spring Museum’s future while enjoying financial benefits for yourself.
Here are some smart ways to give in 2019:
Donate appreciated stock: With the stock market at or near all-time highs, give your appreciated stocks to a nonprofit like Sandy Spring Museum and eliminate capital gains tax.
Name Sandy Spring Museum as a beneficiary of retirement plan assets: These assets remain taxable when distributed to a loved one but are tax-free when given to a nonprofit.
Give from your IRA (if age 70½ or older): Regardless of whether you itemize your taxes, this gift helps you fulfill your required minimum distribution and is not considered taxable income.
Gifts of real estate: Many real estate markets are enjoying gains. Appreciated real estate may be subject to capital gains tax unless donated to charity or transferred to a charitable trust.
Bequests: Consider providing for the museum’s future by making a bequest or other planned gift.
Donor-Advised Fund: Make a contribution to the Museum from your donor-advised fund.
Talk With Your Tax Professional
Please consult with your tax or financial advisors to determine the best charitable giving strategies for you.
We Can Help
We are so grateful for your generosity. Please contact Allison Weiss at 301-774-0022 to discuss how your gift can help further the museum’s mission.