At Least 70½ years old?
The Life Center has learned an amazing way of giving that may be beneficial to some of us. If you are at least 70 ½ y/o, the IRS requires you take a Required Minimum Distribution (RMD) from your Traditional IRA. You can satisfy this requirement tax-free by contributing all or part of it to a qualified 501 (c) (3) charity of your choice- for example, The LIFE Center of the Suncoast, Inc. Consult your account representative for exact procedures to make a Qualified Charitable Distribution (QCD) directly from your Traditional IRA. They will send a check from your Traditional IRA directly to us. You pay zero dollars ($0.00) in taxes up to $100,000 QCD. We will acknowledge your contribution and put it to good use. Everybody wins!
Donate Appreciated Stock
If you have appreciated stocks owned for more than a year you can donate them to The LIFE Center of the Suncoast and eliminate capital gains tax.
Retirement Plans
Gifts from retirement funds paid to your children or grandchildren at your passing may come with heavy income and estate taxes. These same assets are tax-free to charities and take only a few minutes to set up with a simple addition or change to your beneficiary form.
Life Insurance
Perhaps you have a policy that has outlasted its original intended purpose. You can make The LIFE Center of the Suncoast, the beneficiary with just the change of a form. Or you can sign over a fully-paid policy and qualify for a tax deduction.
Gifts from Donor Advised Funds
Consider naming The LIFE Center of the Suncoast as a beneficiary of your account. You can even designate that we receive only a portion of the account.
Gifts from Certificates of Deposit and Other Bank Accounts
You can name The LIFE Center of the Suncoast as the beneficiary of a certificate of deposit, as well as any bank or brokerage account. Your financial institution can assist you with this easy designation process.
As with any gift, please consult your tax or financial advisors.