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Help Families and Receive Beneficial Charitable Deductions with Your Year End Gift

Help Families and Receive Beneficial Charitable Deductions with Your Year End Gift
December 21, 2018 Donors


It’s almost December 31! Contributions are only tax-deductible in the year the contributions are made. To make it count during this tax year, gifts must be made by December 31.

MOM accepts cash, checks, credit cards, and monthly Circle of Hope contributions from a savings or checking account.

Checks should be made payable to Middleton Outreach Ministry and mailed to MOM, 3502 Parmenter St., Middleton, WI 53562

Checks must be postmarked by December 31.

Credit card charges – even if they’re not paid off before the end of the year are deductible so long as the charge is captured by year end.



To claim a charitable deduction on your tax return, you must itemize your deductions. However, the Tax Cuts and Jobs Act of 2017 changed the former advantages of itemizing charitable donations on tax returns for many; as a result, the number of households itemizing deductions is expected to drop significantly. However:

1. If you are 70 ½ years or older, you can make a gift of up to $100,000 per year by directing all or a portion of your required distribution from your IRA to MOM. Your gift will not be counted as income, and you may save thousands in dollars while at the same time, helping our community. Remember, funds must be transferred directly by the IRA trustee to the charity—if you pull funds out yourself and write a check, you don’t qualify for the exception.

2. Perhaps you have a Donor Advised Fund (DAF). This could be a perfect time to make a charitable distribution to MOM from that fund.

3. Consider donating appreciated assets. Giving appreciated stock, securities, and mutual fund shares offer an immediate charitable deduction for the full market value of the donated assets. Not only can you deduct the full market value of the assets (so long as you’ve owned them for at least one year) you will avoid paying capital gains tax.

Please consult with your financial advisor for further information about your charitable giving this year and the ways in which tax law changes my affect your charitable giving going forward.

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