Tax Information
Listed below are some helpful tax benefits that you can take part of, while giving back to MacMurray.
| If your goal is to: | Then you can: | And your tax benefits will be: |
|---|---|---|
| Make a quick and easy gift | Simply write a check or use a credit card to make a gift now | An income tax deduction and an immediate impact at MacMurray College |
| Defer a gift until after your lifetime | Include a bequest in your Will (cash, specific property, or a percentage of the residue) | An estate tax deduction and the ability to keep assets for your benefit during your lifetime |
| Maximize your heirs' inheritance while benefiting MacMurray College | Name MacMurray College as the beneficiary of your retirement plan; leave other assets to family | Reduced estate and income tax for your heirs and the ability to maintain control of these assets during your lifetime |
| Avoid tax on capital gains | Give MacMurray College appreciated stock or certain bonds that you have owned for at least one year | An income tax deduction and avoidance of capital gains tax |
| Make a large gift with little cost | Give MacMurray College a life insurance policy you no longer need | Current, and possible future, income tax deductions |
| Receive a fixed income in return for your gift to MacMurray | Create a Charitable Gift Annuity or a Charitable Remainder Annuity Trust | An immediate income tax deduction and a fixed income stream for life |
| Create a hedge against inflation over the long term | Establish a Charitable Remainder Unitrust (CRUT) | An immediate charitable deduction and a variable income stream for life |
| Reduce gift and estate taxes on assets you pass to your heirs | Create a Charitable Lead Trust that pays income to MacMurray College for a specific term of years | A gift or estate tax deduction, tax shelter protection for appreciated assets and retained ownership of assets |
| Avoid capital gains tax on the sale of a home or other real estate | Give all or an undiluted interest in the property to MacMurray College | An income tax deduction, plus the elimination of all or some capital gains tax |
| Share your enjoyment of a collection or other personal item | Donate tangible personal property related to MacMurray College's mission | A charitable deduction based on the appraised value of the item(s) |
| Create a charitable gift while continuing to enjoy your home | Give your personal residence or farm to MacMurray College while retaining life use | An immediate charitable deduction and a reduction in estate taxes – if applicable |
If you have any questions concerning the listed options or if you are interested in exploring your personal options to benefit MacMurray, please feel free to contact at the Office of Institutional Advancement at 217-479-7024 or development@mac.edu.
