As the end of the year approaches, our thoughts often turn to future plans. It is especially true this year with the approach of the new century. Before leaving this year behind, however, it may be wise to stop and review important financial matters, including the status of your charitable gift commitments.

Act Now to Maximize Savings
Those who enjoy making charitable gifts may wish to take a special look at the amount and timing of their gifts in order maximize their 1999 tax savings.

Remember that only gifts completed by December 31 will be available to help reduce your tax bill next April.

Gifts of Cash
Cash and Checks are the most common forms of charitable gifts. If you itemize your tax deductions, gifts of cash are fully deductible up to 50% of your adjusted gross income. If your income will be higher in 1999 than in past years, extra charitable gifts can help prevent you from being taxed in higher brackets.

Enjoy Extra Savings
With the growth in value of many investments in recent years, gifts in the form of stocks, bonds, mutual funds, and other investment properties can be especially attractive.

Not only are such gifts generally deductible from income tax at their full value if owned for longer than one year, they also allow you to bypass capital gains tax that would otherwise be due on a sale. Gifts of qualified assets are deductible in amounts up to 30% of adjusted gross income.

Whether you make your gifts in the form of cash or other property, any unused deductions can be used in as many as five future tax years.

Your investment advisor can furnish you with any forms that may be necessary to complete your gift. We will be pleased to assist as well.

Take Losses - Give Cash
If you have investments that have decreased in value since you have owned them, consider selling them and making a deductible gift of cash proceeds. In this way you realize a loss you may also be able to deduct from other taxable income. The total of the deductible loss and the charitable deduction may actually be more than the current value of the investment.

Giving From Special "Pockets"
Cash and investments are just two of many "pockets" from which you may give.

If you are over the age of 59 1/2, for example, and have traditional retirement accounts, you may wish to make withdrawals sufficient to fund your charitable gifts. You report the income on your tax return and take a corresponding deduction for your gift.

This will generally result in a "wash" for tax purposes and allow you to utilize extra retirement funds in a way that assures they will, in effect, never be subject to income, gift, or estate taxes.

Or consider another option. Do you own life insurance policies that have built-up cash value but are no longer needed for their original purposes? These can also make convenient tax-deductible charitable gifts.

And don't overlook the opportunity to double the impact of your gifts. Many employers match their employees' charitable gifts. Check to see if this may apply to you.

Looking to the Future
In addition to gifts made today as part of a year-end review of finances, you may also want to consider your long-term financial plans.

• A gift through your will or living trust: After providing as you wish for loved ones, you can leave a specific amount of property, a percentage of your estate, or "what's left."
• Beneficiary designations of life insurance and retirement plan proceeds: Consider this an addition to, or as an alternative to, a gift by will.
• Gifts with retained income for you or others: Check with us or your financial advisors about available options.

Act Today
As you can see, there are a number of ways you can make meaningful gifts by carefully considering the timing of your gifts and the property you choose to fund them.

We will be pleased to provide more information to you and/or your advisors as you complete your plans for the remainder of 1999.