Did you know you can use charitable-gift planning strategies to turn tax dollars to “Kingdom dollars”? Professional advisors at the Wycliffe Foundation can help you be more tax-wise in your planning for yourself, your family and the ministry causes dearest to your heart.
For example, Steve and Valerie received a very attractive offer to buy their property. However, they learned that capital-gains tax on the sale would consume 20 percent of the sale proceeds. Working with a Wycliffe Foundation gift-planning advisor, the couple developed a plan where they gifted a portion of the property to the Wycliffe Foundation before selling the property.
Steve and Valerie received their share of the sales proceeds tax-free, and the charitable portion of the sale — the dollars they would have paid in taxes — went into a donor advised fund with the Wycliffe Foundation. From this fund, Steve and Valerie are now making grants to the projects and ministry organizations of their choice — including Wycliffe.
According to Steve, “Using the dollars that would have been eaten up by capital-gains taxes to do ministry work is a big win — for us and for building God’s Kingdom!”
Do you want to lower your income taxes this year? Are you planning to sell an appreciated capital asset like real estate, securities or a business interest? Do you need to update your estate plan? If you answered yes to any of these questions, we encourage you to contact the Wycliffe Foundation to speak with one of our gift-planning advisors. Gift-planning is our ministry to you, so there’s never any obligation or cost for services provided.