Gifts of Cash
If you itemize, you can lower your 2012 income taxes simply by writing us a check by December 31. There is no easier way to garner a 2012 year-end charitable deduction! Make sure your envelope is postmarked by December 31; if it is, your gift will qualify as a 2012 gift even if it is not received by us until the first week of 2013. Some employers will match charitable gifts, meaning your gifts are worth even more. If your company or firm has a matching gift program, simply enclose the form along with your check. Gifts of cash are fully deductible – up to a maximum of 50% of your adjusted gross income. For example, if your adjusted gross income for 2012 is $50,000, up to $25,000 of charitable gifts may be deducted in 2012. Any excess can generally be carried forward and deducted over as many as five subsequent years. |
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