Give through a Donor Advised Fund
Who? People who expect to give to charities a total of approximately $10,000 or more per year.
Why? The 2017 Tax Act significantly changed the rules governing income taxation, including by limiting to $10,000 the deduction for state and local taxes. As a result, many people who used to itemize the deductions on their income tax returns will now claim the standard deduction ($12,000 for individuals and $24,000 for married couples filing jointly). By giving to a Donor Advised Fund in one year several years’ worth of charitable giving (by “bunching” your giving), you can secure a tax benefit from your charitable giving that you otherwise might not and accelerate the tax deduction to which you will be entitled, while continuing to make annual contributions to your favorite charities.
How? Please call the Development Office for the details…
(516) 742-3434 ext. 313