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Stocks, bonds, real estate, and perhaps
some other items like artwork, give donors the opportunity
to give generously, while saving greatly on taxes. These
items may have appreciated tremendously over the years.
If they are sold, the capital gains tax will be very
large. But by donating them to Radio Kansas, the capital
gains tax can be avoided completely, AND you may deduct
the full current value for this year's taxes, within
the IRS guidelines. It's a great solution for everyone.
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Richard and Martha Hamilton
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Richard and Martha Hamilton of Hutchinson
have been longtime supporters of Radio Kansas. Dick is the
retired president of Consolidated Manufacturing. Now that
he's retired he has the time to volunteer at Radio Kansas.
His favorite job here: answering the phone during fundraisers.
Martha continues to put much of her energy into her passion
of more than 60 years, painting. She is one of the outstanding
artists in the region and is frequently featured in gallery
showings. She and Dick frequently attend her showings around
the area.
The Hamiltons have chosen to support Radio
Kansas through the donation of stock shares in recent years.
"Our decision to donate stocks instead of cash involved
a number of factors," Dick said. "First, we had owned the
stock for many years, so it had appreciated a great deal.
If we had sold the stock we would have had to pay capital
gains tax on the gain. By donating to Radio Kansas we avoided
paying this tax and still could deduct the full market value
of the shares on our tax return. We felt we could be more
generous in giving to Radio Kansas in doing it this way
rather than giving cash. And, just as important, we had
the satisfaction of knowing that we were helping our favorite
radio station."
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The donation of a home or farmland is
another great way to support Radio Kansas. Substantial tax
savings can be realized with real estate which has risen
in value over the years. Even for a donor who doesn't feel
they can offer much support; the gift of real estate is
certainly a way to make an important contribution. There
is also a unique way to give a home, receive a tax deduction,
but keep using the home the rest of your life. This is called
Life Estate. Details can be found
here.
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Farmers frequently take advantage of a different
way to avoid taxes while greatly supporting Radio Kansas.
They donate amounts of wheat, beans, corn or other crops directly
to Radio Kansas. This donation removes the income completely
from their taxes and when sold, the donation helps the radio
station.
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For more information, contact Sharon Webb at 1-800-723-4657
or swebb@radiokansas.org. |
