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Submit News Items to Kristi Lopez, Communications Officer, UK College of Pharmacy, |
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A Year-end Checkup By Caroline Barrow Development Officer
LEXINGTON, KY (Dec. 10, 2002) -- We realize there are many charitable organizations and institutions that are worthy of your support. We are especially grateful for your gifts and want to acknowledge your special generosity. In addition to saying thank you, we want to share information that may help you receive the maximum benefit from your gifts. Did you receive and save your gift receipt? If you plan on deducting gifts of $250 or more, you will need a gift receipt to file with your tax records. If you need a duplicate receipt, we would be happy to supply you with an additional receipt upon request. Are you enjoying maximum tax savings? Cash gifts, appreciated assets, and charitable gifts included in your estate plans can result in significant tax savings, if well planned. If you sell stock at a loss, and then gift the proceeds, you may take both the loss and the gifted proceeds as deductions, thereby creating additional tax incentives to sell in today’s market. Finally, consider making larger gifts in years when you have more income and will be in a higher tax bracket. The higher the bracket, the greater the savings realized from your gifts. Consult your tax advisor when planning charitable contributions that may affect your tax status. Have you considered a gift of ongoing significance? A gift included in your will or living trust establishes a lasting legacy; and you may be eligible for UK Fellows or Bequest Society recognition. A gift of retirement assets may allow you to give more than you thought possible and may eliminate taxes that might otherwise consume a large portion of these assets. UK also recognizes gifts of insurance. Many pharmacists choose to gift policies or proceeds in lieu of a cash gift. In some cases, life insurance is used to supplant higher taxable assets within your estate. If we can assist you with gift planning, please give us a call at (859) 323-3450. |
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________________________________________________________________________________________ Comments to
Kristi W. Lopez, Last
Modified:
December 12, 2002
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