Too Good To Be True?

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 carriec@loveinthenameofchrist.org 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.