B.E.E.F. Giving in 2017
Invest in supporting the Beefmaster Educational Endowment Foundation (B.E.E.F.) before January 1, 2018 & save money!
As you may know, at Beefmaster Breeders United’s (BBU) recent annual convention in Galveston, Texas, our breed’s Foundation (B.E.E.F.), in cooperation with BBU launched the “Foundation for the Future†endowment campaign. This is one of the most important initiatives the Beefmaster Breed has ever undertaken. By establishing a permanent financial base for our Foundation it will enhance our breed’s ability to secure verifiable scientific data on the benefits of the Beefmaster breed, enable the industry to disseminate this information both among BBU members and to the public, and continue to grow the breed.
Your investment, your donation before year’s end, will greatly help us reach our goal!
SAVINGÂ & Â INVESTING, WHILEÂ GIVING IN Â 2017
The end of the year can be a good time to review important financial matters, including charitable gift donations to your breed’s Foundation. For many BBU members this will be especially true in 2017. The past year has seen changes in tax laws and other factors that can influence when and how we make our charitable gifts. Careful planning today can help you balance your personal and philanthropic goals for the remainder of this year and beyond.
Act Now for Tax Savings
Now is an opportune time to examine the amount and timing of your investment donations to B.E.E.F., in order to maximize your tax savings for 2017. Your charitable deductions are one of the few tax-savings opportunities that are totally within your control. Recently enacted tax law changes have reduced tax rates for most Americans. By carefully planning your charitable gifts — like those to B.E.E.F. — and completing them by December 31st, you may find you can further reduce the amount of tax you will owe on April 15th 2018.
What Can You Give?
*Cash. 100% of your donations to B.E.E.F., are tax deductible. If you itemize your tax deductions, gifts of cash can serve to eliminate tax on up to 50% of your adjusted gross income (AGI).
*Appreciated Property. Giving securities (individual stocks, bonds and/or mutual funds) and certain other types of property that have increased in value can bring extra tax savings — and provide multiple tax benefits_ Not only are they generally deductible from income tax at fair market value if owner longer than one year — giving this way also enable you to bypass capital gains tax that would otherwise be due if the donated assets were sold. Gifts of such assets are deductible in amounts up to 30% of AGI. You may also benefit from deducting losses should the security decline in value in the future.
*Depreciated Property. If you own an investment that has decreased in value since you have owned it — consider selling it and making a charitable gift of all or a portion of the cash proceeds to B.E.E.F. In addition to an income tax deduction for the cash contribution — this creates a loss you may be able to deduct from other taxable income. The combined amount of the deductible loss and the charitable donation to B.E.E.F., could actually total more than the current value of the investment.
Over the next month, before Dec. 31st, why not plan on saving on taxes this year while investing in the future of our breed — make a 100% tax deductible donation to the Beefmaster Educational Endowment Foundation (B.E.E.F.) and help make YOUR BREED’S FOUNDATION A FINANCIALLY SECURE AND PERMANENT REALITY … it’s your investment in your future!
We invite you to contact B.E.E.F., and see how you can save & invest while giving in 2017.
THE BEEFMASTER EDUCATIONAL ENDOWMENT C/O
“The Foundation for the Future Campaignâ€
Roger Fuller
Campaign Finance Director
1955 CR 106
Paige, TXÂ 78659-4210
[P] 512-659-5428 * [F] 888-870-2404
[e-mail] rfuller2316@gmail.com
Gerald Galbraith
Campaign Special Gifts Coordinator
1802 Elmwood
Abilene, TXÂ 79605
[P] 325-692-7540 * [F] 325-676-1808
[e-mail] gerald.galbraith@wfadvisors.com
***B.E.E.F. is not engaged in rendering legal or tax advisory service. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained. The purpose of this article is to provide general gift, estate, and financial planning information. Watch for tax revisions. State laws govern wills, trusts, and charitable gifts made in a contractual agreement. Advice from legal counsel should be sought when considering these types of gifts.