 
You will not only receive the satisfaction of supporting your favorite charitable organization like Saint Samuel Church of God in Christ, but you may realize significant tax savings as well. The assets you give will determine your deductions. For instance: Cash: If you make a cash donation, your gift is fully tax deductible up to a maximum of 50 percent of your adjusted gross income, with the amount of savings depending on your tax bracket. For example, if you're in the 30 percent tax bracket, a $2,000 donation will save you $600 in taxes. Stock: Even with the slumping stock market, many people still have stock worth more than they paid for it. A gift of long-term appreciated stock offers two tax savings. First, you avoid capital gains tax. Second, you receive an income tax deduction--based on the increased value of the stock instead of the cost basis--of up to 30 percent of your adjusted gross income. Real estate: With real estate, you can deduct the value of your gift up to 30 percent of your adjusted gross income. And in donating real estate held long term, you generally receive a deduction based on the increased value of the property and pay no capital gains tax. Tangible personal property: If you give personal property, your deduction is based on the relationship of the gift to the recipient's exempt function. A gift of a painting to an art gallery is usually deductible at up to 30 percent of your adjusted gross income. For a gift unrelated to the organization's function, the percentage is limited to cost basis.
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SAINT
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