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Scott Hanson, seen here with his wife Valerie, and two children, Jessica and Blake, is a noted financial and investment counselor. He has hosted his own financial radio program for 11 years. Scott and Valerie are partners with the "JESUS" film. Scott often reminds people that "God owns it all...we are His stewards." We asked Scott to share some of his tax/investment experience with you. |
Taking Full Advantage of Tax Law... for KINGDOM INVESTMENT
SCOTT HANSON: "MANY CHRISTIANS ARE MISSING OUT ON TAX savings the law allows. For example, what if you own appreciated securities such as mutual funds, or stocks. You might even be receiving a good dividend and don't want to sell. But you also want to send a large gift to a ministry. I suggest you not write a check!
Instead, why not give a portion of that security to the ministry, enough to equal the cash gift you intended. The ministry will sell the stock and pay no capital gains taxes. You can then purchase the stocks or funds on the open market with the cash you had planned to give.
Why? You will receive an immediate tax deduction for the appreciated market value and never have to pay the capital gains tax for the to-date appreciation...and you will still own the securities! Then, in the future, when you sell those securities, your cost basis will have changed dramatically, lowering any future capital gains tax liability." Here's how it can work:
Thank you, Scott, for your helpful advice! Of course, we suggest you consult your tax or financial advisor. If you would like additional assistance or have questions about how to take full advantage of current tax law, while giving for kingdom work, please contact Mike Booth at (800) 449-5454. You can also email Mike with any other question you have about stocks, gifts of property or estate design at info@gcfccc.org. Kindly mention this code: NU9166. By the way, Scott Hanson can be heard in Sacramento on KFBK, AM 1530 every Sunday 11:00 a.m. to 1:00 p.m. and in San Antonio on WOAI, AM 1200 Saturdays from 3:00 p.m. to 4:00 p.m.
New Legislation Benefits Holders of IRAs
Do you have an IRA? Are you 70 1/2 or older? And are you aware of a pitfall? You could pay up to a 70 percent tax rate on your pay-out. But a new law affords you an option. You can now give your IRA to a charity of your choice and bypass the tax liability. For complete information on how you can let thousands more experience "JESUS" (made possible by your IRA), please visit www.jesusfilm.org/ira or call Mike Booth at 800-449-5454.
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