Smart Giving Tips

There are many ways to maximize your gift to the congregation, and we’re sharing three tips for Smart Giving.

Retirement Account Distributions

If you’re age 70½ or older, own an Individual Retirement Account (IRA), and believe in UU Saratoga, you can save taxes and benefit our congregation’s Capital Campaign.

With the 2018 tax law changes, you may not be able to itemize things like charitable donations. But you can overcome that limitation with a Qualified Charitable Distribution (QCD) from your Individual Retirement Account (IRA). It’s a great deal! Find out more here.

Stock and Mutual Fund Securities Donations

When you’re deciding how to give to the UU Saratoga Capital Campaign, there may be a better choice than just using cash. Why not reduce your taxes and increase the value of your charitable contribution? That’s a great double benefit!

By donating stock or mutual fund securities that have increased in value since you bought them more than a year ago, you can realize several advantages. Read more about how to donate here.

Life Insurance Policy Contributions

If you want to make a significant non-cash contribution to the UU Saratoga Capital Campaign, here’s a strategy that may work for you.

Perhaps you own a permanent life insurance policy, purchased years ago as a safety net for your family. You might not need it anymore—kids are grown and on their own, your home mortgage is paid off or nearly so, and you’re planning to leave other financial assets to your family in the future.

Indeed, maybe you’ve thought about cashing out your no-longer-needed life insurance policy, so you won’t have to pay more premiums. However, if you do that, you’ll owe income tax on the money you receive. What to do? Click here to find out more.