Great tax benefits exist for those who give. Here are some of the gifts and associated benefits you should know about.
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Qualified Charitable Distribution (QCD)
Your IRA can provide a tax-smart way to make an impact with Caltech now. The Qualified Charitable Distribution or QCD (sometimes called an “IRA Charitable Rollover”) is a great way to make a tax-free gift now to Caltech and satisfy your Required Minimum Distribution (RMD), too.
Retained Life Estate
Donate your home, farm or a second home to Caltech and receive an immediate income tax charitable deduction, while retaining the right to live in your home for the rest of your life. If you itemize your deductions instead of taking the standard deduction you could save significant income taxes. If you cannot use your entire deduction in the year of your gift, you may carry forward all unused deduction for up to five additional years if you are able to itemize in each of those years.