b'What Will Your Legacy Be? Gifts of CashIf you itemize, you can lower your income taxes simply by writing us a check. Gifts of cash are fully deductibleup to a maximum of 60% A planned gift is any gift made during a donors lifetime that is part of the donorsof your adjusted gross income. Any excess can generally be carried forward and deducted over as many as five subsequent years.overall financial and/or estate plan. Planned gifts allow donors to realize their philanthropic intentions while minimizing their tax burden, and to providelong-term, transformational support for the Franklin University community. Gifts of StockIf you own stock, it is often more tax-prudent to contribute stock over cash. This is because a gift of appreciated stock generally offers a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in the stock value. Second, you receive an income tax deduction for the full fair market value of the stock. Many financial planners recommend making sure you have owned the stock for more than one year to qualify for these tax advantages. Gifts of stock are fully deductibleup to a maximum of 30% of your adjusted gross income. Any excess can generally be carried forward and deducted over as many as five subsequent years.Gifts of Real EstateA gift of real estate also offers tax advantages. A residence, vacation home, farm, acreage, or vacant lot may have so appreciated in value through the years that its sale would mean a sizeable capital gains tax. By instead making a gift of this property, you can avoid the capital gains tax, and, at the same time, receive a charitable deduction for the full fair market value of the property. It is also possible to make a gift of your home, farm, or vacation home so that you and your spouse can continue to use it for your lifetimes, while you receive a current income tax deduction.'