Gifts That Reduce Your Taxes

Do you have a life insurance policy that has outlasted its original purpose?  You can name Tower Foundation of San Jose State as owner and beneficiary of a fully paid new or existing policy (minimum death benefit of $100,000).  You may receive an income tax deduction and reduce your future estate tax liability.

You may donate real estate, such as a home, vacation property, undeveloped land, farmland, ranch, or commercial property.

Potential benefits:

• Avoid the hassle of selling property.
• Receive an income tax deduction.
• Avoid capital gains tax.
• You might live in your home or use your properties for the rest of your life while receiving monthly payments from San Jose State.
• Be enabled to make a bigger charitable gift than you ever thought possible.

You can use stocks, bonds, and mutual funds that have appreciated in value to continue to provide the resources to help our students succeed. You may receive a charitable income tax deduction for the full market value of the stock (up to a maximum of 30 percent of your adjusted gross income) and avoid paying the capital gains tax on any increase in the value of the stock.

Potential benefits:

• You may receive a charitable income tax deduction for the full market value of what you give (up to a maximum percentage of your adjusted gross income as dictated by tax law).
• You could avoid paying capital gains tax on any increase in the value of the stock you give.

When you redeem savings bonds, you or the person you leave your bonds to will owe income tax on the gains. By giving the bonds to SJSU, we will receive the full value of your savings while you could reap the following potential benefits:

• You might eliminate the income tax on bonds you own that have stopped earning interest and that you plan to redeem.
• You may receive a charitable income tax deduction for the full market value of what you give (up to a maximum percentage of your adjusted gross income as dictated by tax law).
• You could possibly avoid paying the capital gains tax on any increase in the value of the bonds you give.