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Other forms of Charitable Giving to our Capital Campaign

Pre-Income Tax Ways to Donate

  • Qualified Charitable Distributions (QCD): 

    • If you are over 70 ½ by December 31, 2019, then you can make a qualified charitable distribution directly to Mercy Parish. This QCD reduces your taxable income from your IRA distribution for federal income taxes. 

    • Consult your tax advisor when determining the QCD amount.

    • NOTE – THE SECURE ACT TOOK EFFECT JANUARY 1, 2020, and did not change the QCD age of 70 ½. 

    • PLEASE CONSULT YOUR TAX ADVISOR to determine exclusions from taxable income and income tax implications.
       

  • Stock gifts: no age requirement 

    • Donating appreciated stock directly to Mercy Parish is a great way to not pay tax on the stock gain and get the full fair market value of the stock as a charitable donation.  

    • For Example: a share of Microsoft purchased at $20 that has appreciated to $150. Donating one share of stock will give you a charitable donation of $150 and save you taxes on the $130 gain. 
       

Other Ways to Give

  • Bundling Annual Charitable donations

    • Putting 2 years of donations in a single year to maximize itemized deductions given the current tax laws. 

    • For Example: With the current standard deduction per married couple, many individuals are bundling their charitable donations for 2 years into one. This enables them to maximize the tax deduction of their donations and itemize one year then use the standard deduction the next year. 

  • Building YOUR LEGACY at Mercy Parish

    • Estate planning can offer many ways to ensure Your Legacy at Mercy Parish. Through a bequest, trust, life insurance, or numerous other ways, you can build a legacy of generosity.  Seek professional guidance when planning Your Legacy. 

  • Funeral Planning

    • When making funeral plans, request donations to be made to the Mercy Parish Capital Campaign in lieu of flowers.


Capital Campaign gifts should be designated as “Capital Campaign”
 

Please consult your tax advisor/IRA administrator for professional guidance on charitable donations. 
Informational purposes only.

Tax laws may change. 

Qualified Charitable Distributions 
https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-distributions-withdrawals
https://www.irs.gov/pub/irs-pdf/p590b.pdf 
IRS Publication 526 Charitable Contributions https://www.irs.gov/pub/irs-pdf/p526.pdf 

 

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