Gifts That Reduce Your Taxes

Gifts That Reduce Your Taxes

Gift of a life insurance policy: Let’s say you have a life insurance policy that has outlasted its original purpose. Now you can use it to reduce your taxes and create a legacy gift that will improve health care in Hawaii for years to come.

Benefits:

  • Reduce your income taxes;
  • See firsthand how your gift supports our work if the medical center’s foundation cashes in the policy;
  • If the medical center retains the policy to maturity, or you name it as a beneficiary, once the policy matures, the proceeds will be paid to the medical center’s foundation.

Savings bonds: When you redeem savings bonds, you or the person you leave your bonds to will owe income tax on the appreciation. You can eliminate the income tax on bonds you own that have stopped earning interest and that you plan to redeem. Because all four of our foundations are tax exempt, 100 percent of your gift will support our mission.

Benefits:

  • Reduce income tax.
  • Reduce income tax and estate taxes for your loved ones.
  • Create your legacy of health.

To learn more about ways to give, contact us at 808-535-7100 or at foundations@hawaiipacifichealth.org.