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Maximize your tax benefits

By supporting The Saint Rose Fund today, you can help secure the College’s vision for the future — to take its place among the very best colleges in the nation.

Five tops to help you make the most of your year-end giving:

  • Talk to your advisor: Before making any significant gift to Saint Rose, you should have your CPA, attorney, or other advisor help you understand the impact of your gift on your income tax return and estate.
  • Calculate your income: Take the time to do some planning while you still have the opportunity to make a year-end gift. Try to get a handle on your tax liability for the year. Did your unearned income increase? Did you sell any appreciated assets? Will you owe more taxes? This alone may motivate you to increase your giving before December 31.
  • Review your stocks: Look at the stocks you have held for more than a year. Which ones have appreciated the most? It may be prudent for you to make your year-end gift using one or more of these stocks. Here’s why: If you sell the stock, you will incur capital gains tax on the appreciation. However, if you gift the stock you get a charitable deduction for the full amount of the stock, just as you would if your gift was made with cash. And if you can’t use all of the income tax charitable deduction resulting from the gift, you can carry it forward for up to an additional five years. Such gifts are deductible up to 30 percent of your adjusted gross income.
  • Consider a life-income gift: Saint Rose offers a variety of life-income plans to fit your needs. You can make a gift now, obtain tax benefits, and receive income for the rest of your life. Sound too good to be true? A few minutes of your time will convince you otherwise. For additional information please contact Lisa McKenzie, Assistant Vice President for Advancement Operations 518-454-5114, mckenzil@strose.edu.