Don’t give so much to Uncle Sam! Give it to the wildlife instead.
It’s tax time. Even with the recent government shutdown, the April 15th deadline still looms, so let us help you cut your income taxes!
Taxes aren’t going away, but fortunately there are great tools available to reduce taxes and benefit wildlife with the savings. Because Safari Club International Foundation (SCIF) is a qualified 501c3 organization, donations it receives are tax deductible.
While donations of cash are popular and simple, there are some other tools to help you “beat the tax man.” Here’s a quick summary of two:
1) Gifts of appreciated investment securities. Does the market volatility have you nervous? Would you like to lock-in some gains by selling but don’t want to trigger income taxes? Maybe a gift of appreciated securities is the answer. By giving them to the Foundation you get a tax deduction for the fair market value at the time of donation and the built-in gains escape income tax.
2) Charitable Trusts. One of the most popular is the Charitable Remainder Trust (CRT). It works like this: appreciated property (marketable investment securities, real estate, and some other qualified property) is placed in a CRT. The property is sold with no tax and the proceeds are invested inside the trust. The donor/creator gets tax deduction and income paid out them for the term of the trust. At the end of the trust term the assets remaining in the trust go to the charity of choice – like Safari Club International Foundation.
Let us help you save on your taxes and benefit the wildlife you love at the same time! Stay tuned for more ideas and more updates to follow. For more information on how to take advantage of these tools, contact your financial advisor.
For more information* contact, Kimberly Byers at firstname.lastname@example.org
*SCI Foundation and its staff are not tax advisors. It is wise to consult with your tax professionals if you are contemplating setting up a Charitable Remainder Trust.
Click above to view some short videos on recent SCIF conservation projects.