As the end of the year approaches, it becomes more critical to plan the timing of your charitable contributions. Here are some dates to remember depending on the type of asset you wish to give.
A Very Important Date
All charitable contributions must be completed on or before Dec. 31 to qualify for an income tax deduction this year when you itemize on your federal taxes.
- Cash contributions sent through the mail are usually deductible if they are mailed by midnight on Dec. 31.
- Securities are generally deductible on the date they are fully transferred (if done electronically) to our books-not the date you ask your broker to make the transfer.
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- Real estate gifts, in most states, are considered complete on the date a properly executed deed is delivered to the Jewish Community Foundation of Los Angeles.
- Tangible personal property gifts are complete once the property is delivered to The Foundation.
- Life insurance gifts are considered complete on the date you sign the paperwork transferring ownership to us, assuming you properly forward the form on to the insurance company.
If you would like help in planning your gift to receive full benefit this year, contact Development Office at 323-761-8704 or development@jewishfoundationla.org.
Contact Us
We would be happy to assist you in your charitable planning. Contact our Development Office at 323-761-8704 or development@jewishfoundationla.org to learn more about options that may work for you.
These articles are designed to provide accurate and authoritative information in regard to the subject matter covered. It is provided with the understanding that the editor and contributors are not engaged in rendering legal, accounting or other professional services. Therefore, the contents should not be applied as legal or financial advice.