As 2021 comes to a close, we know many of you are contemplating your year-end giving and will look to make the most of your charitable dollars. Fortunately, the United States tax codes allow for generous giving.
Cash is still the most popular way to make a charitable gift and provides important benefits. If you itemize your deductions in 2021, you can elect to deduct cash contributions up to 100 percent of your AGI (formerly 60 percent prior to the passage of the CARES Act in 2020).
The CARES Act also includes a charitable giving incentive providing non-itemizers with an “above the line” deduction of $300 and extended in 2021 to $600 for those married and filing jointly, making it easier to support your favorite causes. This applies to cash contributions made in 2021 and can be claimed on 2021 Form 1040.
There are a number of other ways you can support Saint Vincent’s Services. If you are interested in learning about donating stocks, bonds, or real estate please reach out to the Saint Vincent’s Services Development Office.
2021 is quickly coming to a close. Please consider your long-term charitable goals and consider including Saint Vincent’s Services and our mission of providing Treatment, Care and Transformation.
We appreciate your consideration and thank you for your support.