Harvesting a Plan

In November, we celebrate a season of harvest and take stock of the fruits of our labor. We offer gratitude to God for His blessings and review the ways we have been able to share those blessings with others.

As we continue to celebrate God’s goodness toward year-end, we see that this year also brings some unique, but short-term generosity opportunities.

For example, gifts of cash can be deducted up to 100% of adjusted gross income. But this opportunity expires on December 31, 2021. And even if you do not itemize when filing your taxes for 2021, you can still deduct $300 per individual ($600 for married couples filing jointly) of cash charitable gifts. This is in addition to taking the standard deduction.

Remember, planning and timing are especially important at year-end. If you wish to take advantage of tax saving opportunities, your gift must be completed by December 31. Whether you are mailing a check, having your broker transfer securities to a ministry, or taking advantage of a qualified charitable distribution from your IRA, there are very specific rules regulating postmarks and processing dates.

May We Help?

To help you explore specific year-end giving opportunities in addition to cash, we have prepared A Guide to Year-end Giving. In this guide, we review the benefits of giving various types of assets in addition to cash. You can download your free copy using the link below.

If you have questions when planning your gift of a specific asset, we are available to help you review your options and opportunities. Call or email today.

© 2021 CDF Capital Foundation from the Lifestyle Giving Legacy files