THE TAX BENEFITS

 

THE TAX DEDUCTION

  • The tax deduction is the difference between the current market value of your property minus the current value of the annuity.

  • The foundation’s IRS approved calculator figures all these numbers for you and shows them on your personal Written Proposal.

  • This deduction is used this year and 5 years into the future or until it is used totally.

  • It can cover up to 30% of your AGI each year and can offset the taxes due on your annuity income or from income from your personal retirement plan.

CAPITAL GAINS AND RECAPTURE TAXES

Because this is a charitable transaction, with your non profit receiving a large gift, all taxes owed on the property, current or accrued, are waived at close of escrow. This includes all taxes due on prior 1031 exchanges and recapture taxes on depreciation taken over the years.

TALK WITH YOUR TAX ADVISOR ABOUT THESE BENEFITS