As you end your year, you may want to consider how you can give to the cause of God around the world and avoid paying any extra taxes.
Right now we are actively pursuing the funds for the next step at the Center for World Evangelism. I hope you are praying about giving something extra to help.
Another way to give to a charity is to consider the following vehicles provided by the US:
If you need to take a Required Minimum Distribution (RMD) from your IRA, consider giving the RMD directly to Vision Baptist Missions. According to the Pension Protection Act of 2006 (PPA), you can give a donation directly to a charity using your IRA and not have to pay taxes on the portion of the RMD given to that charity.
If you would like to donate to Vision Baptist Missions and have some highly appreciated stocks or bonds which have been held for more than one year, you can donate the investment at its appreciated value and not the cost basis (price paid for the stock) and count the higher amount as a deduction from taxes. If the sale of the appreciated shares would have triggered long-term capital gains, your deduction is up to 30% of your adjusted gross income, and you can carry forward higher amounts for up to five years.
Please talk to your tax accounting person for more precise and detailed information concerning your individual tax situation.
Thank you for your continued support and prayers for the Center for World Evangelism.