End of Year Tax Planning Information

Reduce Taxes…Make a Year-end Gift to Javanon!

At its heart, year-end tax planning is all about positioning yourself for optimum tax benefits in light of your overall personal, family, and charitable objectives. The Holiday Season and January 1 will be here before we know it…and that dreaded appointment with Uncle Sam will closely follow right on its heels! Now is the time to take action to minimize your tax exposure.

You have such an opportunity by making a year-end gift to Javanon as an investment in the future of Javanon. Federal tax laws make it possible to reduce or eliminate taxes on funds you give for charitable purposes. Funds used to make charitable gifts are deducted from the amount otherwise subject to federal income taxes when you itemize your deductions.

You can choose from a variety of gift-giving options, many of which offer the potential for significant tax savings. Two of those opportunities are presented in the paragraphs below.

Cash
Gifts made by cash or check are the most popular giving methods. Your outright gifts of cash to Javanon as a 501(c)(3) are fully deductible for federal income tax purposes subject to the limits established by the IRS. All gifts mailed or otherwise delivered by December 31 qualify for tax deductibility for 2007. Check with your employer or organization to see if your gift can result in a greater investment in Javanon as a result of their matching gift program.

Securities/Appreciated Property
Gifts of property such as stocks, bonds, mutual funds, and other appropriate assets that have increased in value since you have owned them can result in extra tax savings…and a greater investment in Javanon. If you have held such assets for longer than a year, you can generally give them and deduct their current value, including any "paper profits," from your taxable income. Congress has also provided that in addition to regular tax savings, you do not have to pay capital gains tax on assets given to charity. This additional tax savings is one reason why some people choose to make gifts of securities and appreciated property rather than cash.

New Law Brings New Opportunities for Donors Age 70½
In 2006, Congress took important steps to strengthen America's retirement system while also encouraging additional charitable giving. The Pension Protection Act of 2006 (PPA) offers new opportunities for tax-free charitable giving from an IRA. PPA gives those at least age 70½ the opportunity to make tax-free charitable gifts from a traditional or Roth IRA that would otherwise be subject to federal taxes if withdrawn voluntarily or under mandatory withdrawal requirements. Please consider Javanon in this important area of potential gift giving. A great idea for grandparents!

Javanon Contact Information:
Please contact Lachlan Smith, Treasurer, at 502-897-0319 with any questions, or send your check to Javanon Soccer Club, 3303 Brownsboro Road, Louisville, KY 40207.