With tax season just behind us and tax reform on the table in Washington, now is the right time to think about your charitable giving strategies to support Hospital for Special Surgery in 2017.
Cash is often the first asset we think of to donate, but it may not be most tax-wise gift. Here are three ways to give that may allow you to maximize your impact at HSS and minimize your tax burden.
When you donate LONG-TERM APPRECIATED SECURITIES to HSS, you receive a tax deduction for the full fair market value of the asset up to 30% of your adjusted gross income (AGI) and are not subjected to a capital gains tax. The more appreciated the asset, the greater the tax savings. Read More
A QUALIFIED CHARITABLE DISTRIBUTION, also known as an IRA Charitable Rollover, allows individuals 70 ½ or older to direct up to $100,000 from their traditional IRA to HSS or another qualifying charity without recognizing the transferred assets as income. These distributions, which must be made from the IRA trustee directly to the qualifying charity, count toward minimum required distributions. Read More
Contributing to a DONOR ADVISED FUND may make you eligible for a charitable deduction for the fair market value of the asset on the date of contribution, and will allow you to recommend grants to HSS in the future. Read More
Being thoughtful about how you give to HSS can help you make the biggest impact on the Hospital's patients in the most tax-efficient manner. We encourage you to speak with your advisor or call our office at 212.606.1196 to learn more about these giving strategies.
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