Racine County's Animal Shelter - We are the Adopt-A-Pet people

Membership

Memberships are available in a variety of amounts to help with all of our programs. A membership form is available at our shelter or online.

Here are nine ways to reduce you taxes and help Countryside.

1. Gift of Cash
   If you itemize your tax return, cash gifts can be deducted, up to 50 % of adjusted gross income.  On a $100,000 cash gift, in a 35% bracket, you may save $35,000 in taxes.  CHS invites cash pledges payable over a period of years.
   
2. Appreciated Stock
   Appreciated stock (held more than one year) makes an excellent gift to CHS.  You avoid all capital gain taxes (generally 20% of the appreciation) and will receive a charitable tax deduction for the stock's market value at the time of transfer.
   
3. Bequest Through Will or Trust
   One of the simplest and most popular ways to make a gift that will live after you is to give through your will or trust.  You can make a bequest to sustain CHS by providing a dollar amount, specific property, a percentage of your estate, or what is left (remainder).  Such a designation can reduce your estate taxes (for estates greater than $1 million).  In many cases, a simple codicil to the will can add CHS, and does not require rewriting your most recent will.
   
4. Retirement Accounts and Pension Plans
   Account funds (IRSs or company plans) beyond the comfortable support of yourself or loved ones may be given to CHS by proper beneficiary designation.  Large pension plan assets can be subject to double or triple taxation (federal income, state income and federal estate taxes) that may substantially eliminate the benefit to heirs if tax-smart alternative planning is not arranged.
   
5. CDs, Savings Accounts, Brokerage Accounts, Checking Accounts with P.O.D., Provisions
   P.O.D. stand for Payable on Death.  You retain full ownership and full control during your life.  At your death, the account balance is paid to your named beneficiary, CHS, immediately and without probate.
   
6. Charitable Remainder Trusts (Annuity and Unitrusts)
   Donors and spouses can benefit from life-long payments from such a trust.  The donor selects the rate of return from these income arrangements and also chooses a fixed or fluctuating annual payment to be made to the designated parties as long as they live.  Estate and capital gain taxes may be completely bypassed and you will receive a current income tax deduction based on the age of the income recipient and the rate of return chosen.
   
7. Gift Annuity
   In exchange for a gift of cash, stock or securities, CHS will pay you, you and your survivor, or another person you name a guaranteed income for life.  In addition, you receive a substantial income tax deduction in the year of the gift, and part of the annual payment is non-taxable.  Upon your death, or the second to die, if so selected, the gift remainder supports CHS.
   
8. Gift of Life Insurance
   Insurance is another simple way to make a substantial future gift at a level that would not be possible at the same level in cash.  Name CHS as the owner and beneficiary to receive the proceeds of an existing life insurance policy.  You will receive a tax deduction for approximately the cash surrender value in the year of the gift.  An alternative is to add CHS as a revocable beneficiary.  You retain the right to change this designation, but you receive no income tax deduction.
   
9. Gift of Real Estate
   For some individuals, a gift of land, a house or vacation home is a way to make a gift.  You will receive a tax deduction for the full market value, avoid all capital gain taxes and remove this asset from future estate taxes.  One option is to give real estate retaining a life tenancy.  This provides a substantial tax deduction by deeding your property to CHS now.  You continue to live there, maintain the property as usual, and even receive any income it generates.  At your death, the property will be sold and the proceeds used to support CHS.