Charitable Gift Annuities and Tax-Free Income
Everyone likes opportunities for more income, but no one wants to pay additional taxes.
Through a charitable gift annuity (CGA), you can bless the work of Love INC AND receive regular payments for the rest your life – most of it tax-free.
Is this too good to be true? No!
This life income arrangement is based on an IRS formula that considers part of your income as a return on your original gift. That means a percentage of any income from a CGA is tax-free to you.
For example, Betty, a 74-year-old, makes a $20,000 gift for a CGA. She will receive over $1,200 each year, and of that amount, approximately $840 will be tax-free.
Is a charitable gift annuity the right giving solution for you?
Contact Carrie Childerston at 616-662-3300 or [email protected] to learn more about gifts that provide income for life and to request your personalized proposal for what your payments from a CGA would be.