Methods of Giving
This information is not intended as tax advice. A competent tax advisor should be consulted.
Here are some methods of giving that you should consider at year end? Remember that donations to Chabad of The Nyacks are 100% tax deductible (speak to your accountant to see how this will benefit you on your return).
Auto Donation - If you are planning to purchase a new vehicle in the near future, donating your old wheels to Chabad of The Nyacks can bring you a greater value on your tax return. Your tax donation value would be evaluated based on www.KBB.com while selling it on the open market may bring you 30-40% of that value.
Real Estate Donation - You may have real estate that has depreciated in value. You can get the full appraised value for that real estate even if you couldn't sell it for that amount.
Appreciated Stock - Due to the shifts in the market over the past year you may have appreciated stock. Donating (transferring) the appreciated stock directly to Chabad of The Nyacks helps you avoid capital gains tax while getting you a donation credit at 100% of the stock value.
Cash (or check or credit card) - Of course good old fashion donations via check, credit card or wire transfer to Chabad of The Nyacks all can benefit you on your tax return. Speak to your tax advisor to see exactly how your contribution can benefit you. Donations to Chabad of The Nyacks can be made via website www.chabadnyack.org/donate or via mail. Feel free to email or call if you need more information.
Airline Miles - Donating airline miles or AMEX award miles or similar award programs is now considered a charitable contribution eligible to be deducted on your taxes. For this or for information on any other contribution please contact me by replying to this email.
Matching Grants – If you work for a large corporation your contribution may be matched by your employer. Chabad of The Nyacks qualifies for these matches because of some of our social program.
Legacy & Estate Planning – Remember Chabad of The Nyacks in your will. Leaving a portion of your estate to Chabad of The Nyacks is the simplest way to reduce estate taxes and the easiest way to leave a lasting legacy.
The real value of your contribution is above and beyond the cash value as your dollars are directed to helping us achieve our mission to inspire every Jew regardless of affiliation or background and to provide opportunities for Jewish education and experience.
May you and yours be blessed with material success and blessings for health and nachas now and always.
This information is not intended as tax advice. A competent tax advisor should be consulted.