bequests and planned giving
Planned gifts often offer financial and tax benefits to the donor and are among the most effective ways to ensure that Good Mews can continue to save the lives of our community’s homeless and injured cats and kittens each year.
Review the list of seven ways to reduce your taxes by making a gift to Good Mews, and then consult with your independent financial, tax, or legal adviser for specific help with your particular situation, as Good Mews does not provide financial, tax, or legal advice.
For more information about these types of gifts or other giving opportunities, please contact Good Mews President Lori Trahan 770-499-CATS (2287) or email her at email@example.com.
Good Mews Animal Foundation is a 501(c)(3) publicly supported charity.
Donations are tax deductible to the fullest extent of the law.
Good Mews Tax ID number 58-1790828.
- Bequests: Through your Will or Living Trust, you can donate to Good Mews a fixed amount or a percentage of your estate. Recommended language to use in your will: “I give, devise, and bequeath the sum of $_____ to the Good Mews Animal Foundation, a charitable organization located in Marietta, Georgia (EIN# 58-1790828).”
- The Pension Protection Act of 2006: If you are 70-and-one-half years or older, you can make an outright gift to Good Mews by transferring funds directly from your individual retirement account (IRA) without paying federal income taxes on the distribution. The gift must be made by the end of the year and will count towards your minimum required distribution. Please consult your tax adviser for current donation limits.
- Charitable Gift Annuities: A Good Mews charitable gift annuity will provide an immediate or deferred fixed-income stream for one or two people. This is an excellent way to increase retirement income or help support aging parents. Payout rates are based on age, and a portion of your payment will be tax-free. You will also receive a charitable income tax deduction in the year of the gift.
- Appreciated Assets: Donate stocks, bonds, or real estate to fund a planned gift and avoid substantial capital gains taxes on these assets. If you donate appreciated securities that you have owned for more than one year, you get a deduction for the full market value of the securities, even when it is greater than the amount you paid. You don’t have to declare the difference or the profit as income, avdouble benefit.
- Paid-Up Life Insurance Policies: When your family responsibilities decrease and your policies are no longer critical to your family’s well-being, use them to support the work of Good Mews.
- Retirement Plans: Tax-deferred IRA and 401K plans may be extremely vulnerable to high income and estate taxes. Naming Good Mews as a beneficiary will reduce these taxes and allow you to leave other assets to heirs.
- Trusts: A charitable lead trust will generate funding for Good Mews until the time comes to transfer the remainder of the fund to your heirs. In the meantime, taxes can be minimized. A charitable remainder trust will provide lifetime income to you or your heirs, along with some tax benefits. When the income payout period ends, the remainder of the trust flows to Good Mews.