Did you know that you can donate stock to the church?
Some givers may want to consider giving stock to the church. If you donate stock that has appreciated in value, in most cases you can take a tax deduction for the full fair market value of the stock and avoid paying tax on the increase in the stock’s value. There are some limits imposed by the IRS, so consult your tax advisor for more information.
The church has an account set up with Charles Schwab for charitable contributions of stock. Please contact Brian Augustine for more information- accounting@inspirehutch.church or 620-500-9996.
Did you know that you can make a donation from your IRA to the church?
If you are 70½ or better, you may be able transfer funds from your IRA to the church tax-free via a qualified charitable distribution (QCD). And, for those that are at least 73 years old, QCDs count toward any required minimum distribution (RMD) for the year. There are some limits imposed by the IRS, so consult your tax advisor for more information.