Tip of the Week
Variety is the spice of giving.
You can give almost any kind of highly appreciated property—such as closely-held stock, real estate, partnership interests, or valuable art—to a charitable remainder trust and receive major tax and income benefits.
So all at once you can:
- Receive income for life
- Take a charitable tax deduction
- Avoid all capital gains tax
- Support the mission of Albany College of Pharmacy and Health Sciences
You can even allow your assets to accumulate tax-free until you "turn on the income spigot" at retirement or some other future event, such as the start of your child's education.