How It WorksSavings bonds are normally taxed when they're cashed in, reissued to another person or reach final maturity. Fortunately, you can reduce, or even eliminate, income taxes when you choose to leave your bonds to PETA. Although the bonds themselves can't be directly donated to a charitable organization during your lifetime, there are three smart strategies that allow you to use your bonds to support our mission.
Three Charitable Options
Case in PointSteve leaves $10,000 of U.S. savings bonds to his daughter, Becky, upon his death. Becky is in the 35 percent income tax bracket, so she receives only $6,500 ($10,000 - $3,500) after she pays the income tax on the bonds. If Steve were to leave the bonds to us instead, we would receive the entire $10,000 because we are a tax-exempt organization.
Learn MoreIf you have questions about this tax-smart way to give, please contact Tim Enstice at 757-962-8213 or email@example.com.
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