End of Year Giving Tax Strategies

Dear Friends,
As we approach the end of another year, I wanted to give you some pointers on ways you can reduce your taxable income by donating to ministries like A Woman’s Choice.  It’s a win/win.  You can save lives AND reduce your tax liability!  

Did you know?

1. Taxpayers who itemize on Schedule A can deduct up to 60% of their adjusted gross income for cash donations.
2. Individuals age 70.5 or older can directly transfer a Qualified Charitable Distribution (QCD) to A Woman’s Choice from their IRA. QCD distributions are counted toward satisfying your RMD (Required Minimum Distribution) for the year, up to $105,000 for individual filers and $105,000 each for married, filing jointly. QCDs are generally excluded from your taxable income.
3. Taxpayers may donate appreciated stocks and eliminate capital gains tax.

I encourage you to consult with your attorney, accountant, and/or financial advisors for additional information on how these charitable distributions and tax strategies apply to your specific financial situation. 

Distributions and charitable contributions can be sent directly to A Woman’s Choice at 1234 E Lime St. Lakeland, FL, 33801. Attention: Rebecca Klein. Our FEIN is 59-2853796. You can also donate here: https://www.myegiving.com/app/giving/awomanschoice

It’s that easy to make a difference today and save lives for generations to come. Thank you so much for your support!  

I pray for blessings in abundance over your Advent season.

God Bless,

Janet Smith, CFRE
Development Director