The last few weeks we have discussed “why” we give, which I hope has challenged you both spiritually and emotionally. In Acts 20:35 Jesus is quoted as saying “it is more blessed to give than to receive”. God did not put us here just to take and consume. Giving leads to a victorious, abundant life of joy and peace because it is hard to be selfish when you’re giving.
So let’s talk about the “how” of giving. I want to encourage you to think differently about your giving. Most of us think of giving financially from what is in our checking or savings account while locking up the rest of our assets that could be used now as well as after we are gone to glorify and build the Kingdom of God. There are many giving opportunities besides what is in our bank account. What other types of assets could you use to turn into “living water?”
FINANCIAL INTERESTS
Retirement plan assets, stocks, bonds, and mutual funds, promissory notes, mortgages receivable, cash value life insurance policies, tangible personal property, oil and gas interest, mineral rights, precious metals, inheritance, etc.
REAL ESTATE
Raw or undeveloped land, ranches, and farms, single family dwellings, condominiums, apartment buildings, vacation properties, rental and commercial properties
BUSINESS INTERESTS
- Commercial business holdings
- S- Corps
- C-Corps
- Limited Liability Corps (LLC)
- Limited Partnerships (LP)
- Family Limited Partnerships and Sole Proprietorships
Using Non-Liquid Assets is a Tax-Smart Way to Send More to God’s Kingdom. Some of the benefits include:
Less To Taxes
By donating non-cash assets directly, rather than selling them then paying taxes and giving the net proceeds, you typically receive a tax deduction for the full fair-market value of your gift, as well as avoid capital gains taxes.
More To Ministry
The capital gains taxes you save by giving the asset directly to your church means more goes to support the work of God’s Kingdom, instead of going to the government.
Personal Savings
Because you receive the full tax deduction for the fair-market value of the asset, you’ll see great savings on your personal income tax returns. This means more money stays in your pocket for your lifestyle expenses or additional giving.
Non-traditional giving can be very complicated but I’m here to help you turn your non-cash assets into “living water” to build the Kingdom of God. Feel free to contact me at our office by calling 830-609-6986 during business hours of 8:00am-5:00pm CDT to learn more.
The next few weeks I will be discussing Kingdom Building financial “tools” available to create financial endowments like Charitable Gift Annuities, Donor Advised Funds, estate planning techniques and more.
