For many of us, the end of the year has traditionally been the season of giving.  It is often when many people make gifts to their favorite charitable organizations.  As you reflect on your gifts this year, there are a few things you may want to consider. Different methods of giving may provide a variety of benefits for you and your family:

• Gifts of cash: If you itemize your deductions on your federal income tax return, you can deduct gifts of cash up to 50% of your adjusted gross income each year.
   
• Gifts of appreciate securities: If you have owned your securities for more than a year, you may donate them to charity and deduct their full fair market value, thereby bypassing the capital gains tax.  Such gifts may be deductible for up to 30% of your adjusted gross income for the year. 

Remember that contributions that exceed deductible limits for the year of the gift may be carried forward and deducted in up to five future tax years.

·        Gift annuities: A gift annuity is a simple, contractual agreement between one or two donors and Alzheimer's Association in which you transfer assets to us in exchange for our promise to pay you an annuity. By donating through a gift annuity, you can accomplish two things: (1) contract for a fixed income payment for yourself or yourself and another individual, if you choose, and (2) make a gift to Alzheimer's Association. If you itemize deductions on your tax return, savings from the charitable deduction reduce the net cost of the gift. Call for an illustration on how a gift annuity might work for you. 

• Gifts from other sources:  If you are over the age of 59-1/2 and have an IRA or other tax-favored retirement account, you may consider withdrawing an amount sufficient to cover your charitable gifts for the year.  You must report the income on your tax return, but you are allowed to take a tax deduction for the amount of the gift.  This generally results in a “wash” for tax purposes.   You may also list a charity as the beneficiary on the beneficiary form provided by your plan administrator. Never make a beneficiary change, however, before discussing your desires with your professional advisor. For an IRA or Keogh plan you administer personally, notify the custodian in writing and keep a copy with your valuable papers.
   
• Leave a Legacy:  Gifts through your will are an important yet relatively easy way to support your favorite charities, affirm your values, and leave a lasting legacy for the benefit of others.  If you already have a will, consult your attorney to add a simple codicil specifying a charitable bequest intention.
   

We hope that as you reflect on your own giving for the year, you remember the Alzheimer’s Association – Greater Illinois Chapter in your plans.  Your support will allow us to continue to stand by all those who are suffering from the devastating effects of Alzheimer’s disease.

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on how to support the Alzheimer's Association