'Tis the Season - An important article on giving by Dale Hubbert
This article is being shared through The Gospel of Christ in order to both educate others about methods of giving as Christians, as well as an opportunity to help The Gospel of Christ in our own efforts of raising funds for the present and continued good of the program in how we reach lost souls and help to edify the saints.
Please take some time to read. If you have questions, you are welcome to contact us at The Gospel of Christ or Dale’s information is below.
Tis The Season
Gifting is an opportunity that has needs year around but it seems to receive special interest near the end of the year. As Christians we want to be good and generous stewards using wisdom as a guide. There are many ways to gift to benefit the church and other organizations such as The Gospel of Christ that seek to glory God while helping others.
Gifting can be as simple as writing a check, setting up a monthly ACH or using a debit card. There are other ways that are not as familiar but can be equally if not more effective especially in the arena of saving taxes. For some people who have tax-qualified plans like IRA’s a person who has reached the age of being required to receive RMD’s (required minimum distributions) there can be opportunities to donate some or all of the RMD to The Gospel of Christ, the church and other organizations in the form of a QCD (qualified charitable distribution) with the likelihood of this contribution being non-taxable.
With a stock market that has done well recently there are several funds that have increased significantly. Selling those funds triggers capital gains which often cause taxes to be paid. Donating those funds/accounts directly to the church, or worthy organizations like The Gospel of Christ, is a gift that can avoid capital gains while allowing a charitable deduction for the fair market value of the funds when donated.
Some people have property that has increased in value and would trigger a capital gains tax if sold because of a lower basis in the property. Donating that property directly to the church or organization can avoid the taxable gain while allowing the fair market value of the property to be treated as a charitable contribution. This is available for real property such as land. It is also available for vehicles and other property that has increased in value.
The are additional ways to contribute which may take effect later. Listing the church, The Gospel of Christ or other faithful organizations as a beneficiary or partial beneficiary of a life insurance, annuity, or investment account is a wonderful way to bless the Lord’s cause when we leave the walks of this life.
Writing a check still works but please be aware there are several other ways to be a wise steward and bless the greatest cause of this earth. You are encouraged to talk your financial advisor and tax professional to see what is in your best interest. You can also speak to one of the elders of your congregation or an overseeing congregation of good works, or even someone at the organization who will help guide you to those who can be assistance.
Joey Ferrell and Beverly Ramsey are the contacts at The Gospel of Christ and they can be reached for making a donation at 855-458-3905, emailing mail@thegospelofchrist.com, visiting their website at www.thegospelofchrist.com/support, or by regular mail at The Gospel of Christ, PO Box 788, McMinnville, TN 37111.
Tis the season!
Article adapted for use by The Gospel of Christ originally written and supplied by:
Dale Hubbert
