If you itemize, you can lower your income taxes simply by writing us a check. Gifts of cash are fully deductible - up to a maximum of 60% of your adjusted gross income. For example, if your adjusted gross income for this year is $100,000, up to $60,000 of charitable gifts may be deducted this year. Any excess can generally be carried forward and deducted over as many as five subsequent years.
This information is necessarily general in nature; you should contact your own attorney, accountant, or other qualified financial and estate planning professional regarding how it relates to your specific situation. We would be pleased to provide you with additional information – at no obligation – on how planned giving can be of benefit in your overall financial or estate plan.