» Cash and Securities
Cash gifts can generally be deducted up to 50% of your adjusted gross income. For example, a $10,000 cash gift in a 28% tax bracket could save you $2,800 in taxes.
A cash pledge over a period of years is not deductible until you actually pay. For example, a $30,000 cash gift pledged over three years ($10,000 paid each year) in a 28% tax bracket could save you $2,800 in taxes each of the three years.
CD’s, Checking and Savings Accounts, Brokerage Accounts
With Payable on Death (P.O.D.) provisions, these types of gifts enable you to retain full ownership and control during your life. Upon your death, the account balance is paid to the NMMI Foundation immediately and without probate.
Appreciated stock you have held for more than one year makes an excellent gift. Generally, you can receive a tax deduction for the full market value up to 30% of your adjusted gross income and avoid capital gains taxes.
Bonds and mutual funds are similar to cash in their tax treatment with a tax deduction for the full value of the gift. State, Municipal, and U.S. Government Bonds are welcome.