A Brief Guide. . .to the benefits
As you consider your year-end tax planning, we hope you will consider making good use of the income tax charitable deduction. Your 2014 year-end gift can signicantly reduce your income taxes, while providing meaningful support for us. No matter what your income, if you itemize, you can almost always lower your income taxes through charitable giving. The amount of the income tax savings will depend on your tax bracket.
Example: If you are in a 33% income tax bracket in 2014, and you itemize your deductions, a $1,000 gift to us by December 31 will save you $330 in 2014 taxes.
Consider making more charitable gifts in those years when you have the most income – and are in the top federal income tax brackets. If such is the case for 2014, you may wish to consider accelerating future charitable gifts into this year. Check with your tax advisor. Giving is, of course, much more than tax brackets and charitable deductions. Your charitable gifts make an important difference in what we are able to accomplish. Here are some of the best 2014 year-end gift ideas. We would be pleased to provide you with further information. Also, we urge you to discuss your tax planning with your accountant or other professional advisor.
For further information
For additional information, contact Bill McFarlin, Vice President for Development at 231-894-1966 or e-mail at firstname.lastname@example.org.Copyright 2008 by Calder P. Sinclair