A Smarter Gift This Holiday Season

2020 has been a challenging year for the entire Suncoast community. On behalf of United Way Suncoast, thank you for standing by our side. This year, your generous support helped us provide important services to neighbors across our communities, including those who have been most severely impacted by the COVID-19 pandemic, and for that we are very grateful.

As you consider your end of year giving this holiday season, we’d like to share some ideas on how to have your greatest impact with smarter, tax-savvy methods of giving. Following are two ways to give that make taxwise gifts easier than ever.

  • Make a gift of Long-term Appreciated Assets. Giving a gift of long-term appreciated assets, wrapped giftsuch as publicly traded securities, can be beneficial to you and United Way Suncoast. Why might charitable stock gifts be right for you? If you donate appreciated stock directly to charity, you do not incur capital gains tax. And when you give a gift of appreciated stock, it is both fully tax deductible and more than 30% more valuable than if you sold it and then donated the after-tax earnings. It’s a no-brainer, win-win way to support a cause you care about.
  • Make a Qualified Charitable Distribution (QCD) through an IRA. Any individual who is 70 ½ years or older with a traditional IRA can give a tax-free gift called a QCD to United Way Suncoast. These gifts can be made whether you itemize or not and they can reduce your future tax burden. Even in a year without a Required Minimum Distribution (RMD), in response to the coronavirus outbreak, Congress waived the RMD rules for qualified retirement accounts for 2020 so this may be your smartest giving option to reduce your future RMDs.

We encourage you to give your smartest and most powerful gift to United Way Suncoast this holiday season by considering these or other giving options that will best meet your needs. As always, United Way Suncoast strongly encourages you to contact your financial advisor and review IRS rules and regulations to learn more about Qualified Charitable Distributions and Long-term Appreciated Assets.

Thank you for your support. To learn more about making a QCD or stock gift to United Way Suncoast, please contact:

Linda Breen
Senior Director, Major Gifts and Planned Giving
Mobile: 704-650-7225

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