Strategies to Maximize Your Year-End Donations
Make your gift to UJA by Monday, December 31, 2018. It might help reduce your taxes and will make an impact on millions of New Yorkers in need and Jews around the world.
Make a Gift of Cash
You could lower your 2018 income taxes simply by making a gift to UJA online by credit card by the end of the year, or by mail with a check postmarked no later than December 31, 2018 (mailed to UJA-Federation of NY, P.O. Box 4227, New York, NY 10261-4227). Gifts of cash can be fully deductible up to a maximum of 60% of your adjusted gross income. Please note this is a 10% increase from last year. Ask your tax advisor how these deductions can benefit you.
Transfer Appreciated Securities
As the stock market rises to a nearly all-time high, your tax advisor may suggest that now is the time to donate your appreciated securities to UJA-Federation. This may help to avoid capital gains taxes.
Give Through the IRA Charitable Rollover
For many, the Tax Cuts and Jobs Act impacted the financial value of charitable donations. Despite these changes, gifts from your Individual Retirement Account (IRA) are unaffected.
Individuals age 70 ½ and older may be able to make direct transfers totaling up to $100,000 per year from their IRAs to UJA-Federation without tax implications. These transfers can be used to meet your required minimum distributions. Transfers to UJA, a qualified charity, must be completed by December 31, 2018, and distributions must be made directly to UJA.
Ask your tax advisor for details, and then call us at 212.836.1486.
Take the Legacy Challenge
When you create a legacy gift, you ensure that UJA remains agile and strong — prepared for the inevitable challenges ahead. The Legacy Challenge Fund magnifies your impact so that your gift also provides resources right now. Let us know about your legacy gift, and the fund donates 10% of the value of your gift to the annual campaign in your honor or $10,000 if you choose not to disclose the amount.
Leave UJA in Your Will
It can be easy to include UJA in your estate plan. UJA can be named as a beneficiary in a will or trust, often by codicil, without the need to redraft your documents. This is the most common legacy gift made to UJA and does not affect your assets in your lifetime.
Designate UJA as a Beneficiary
You can choose to make UJA a beneficiary of your IRA, bank account, brokerage account, insurance policy, or other financial account. These options are easy and free. Simply obtain a beneficiary form and designate UJA as one of the beneficiaries on your account. Retirement assets are among the most heavily taxed inherited assets, and you could benefit by using these accounts for a charitable gift.
Create a CGA
Support UJA and receive income for yourself or a loved one by creating a Charitable Gift Annuity (CGA). A CGA can provide a steady income stream, tax savings, and the satisfaction of providing for UJA with vital long-term resources.
We Are Here to Help
If you have a question, please let us know.
Thank you always for your generosity!
This memorandum is for informational purposes only and is not intended to serve as tax or legal advice. Some information may not be relevant for all individuals. Please consult your personal advisor for specific information and guidance concerning your individual legal, tax, and financial situation.