How to be Tax-savvy and Save Money While Donating to Habitat

VIDEO: How to be Tax-Savvy and Save Money While Donating to Habitat

Central Oklahoma Habitat for Humanity has a simple way to save money while giving to Habitat – consider donating stock or funds from your IRA.

Each contribution will help qualifying individuals or families buy an affordable new home for cost and without a down payment. Donations can also be made to our Critical Home Repair program to help limited-income homeowners with needed repairs and winterization services. Here’s how to reduce future tax burdens while ensuring Habitat helps others in Central Oklahoma.

 Give from your IRA

Habitat donors ages 70.5 or older, can allocate a gift from their IRA and save money because IRA gifts are tax-free and can be used to satisfy a Required Minimum Distribution, if needed.

 Donate Stock:

Donating appreciated assets avoids federal capital gains taxes and provides a federal income tax deduction for the current market value of the gift. Similar state tax benefits are also available in most of the U.S.

When you make your gift, you can use the tool at FreeWill.com/SmartGiving/COHFH or by scanning the QR Code. Using the tool allows Habitat to maintain accurate records of your gifts. As a result, we can devote even more time helping future homeowners and homeowners in need.

QR Code Tax Savy Freewill