Parishioners and friends can make one-time or recurring gifts, from any device that connects to the internet, using a current email and checking account/credit card to create your own online donor account. It’s simple and secure!
For 2021: IRA - Required Minimum Distributions (RMD's)
If you’re 70½ or older, you can transfer your 2021 RMD (up to $100,000) to a charity at any time. The donation counts as your required minimum distribution but doesn’t increase your adjusted gross income, which can be particularly helpful if you don’t itemize and can’t deduct charitable contributions. The money needs to be transferred directly from the IRA to the charity in order to be tax‐free. If you withdraw it from the IRA first and then give it to the charity, you can deduct the gift as a charitable contribution (if you itemize), but the withdrawal will be included in your adjusted gross income. For more information, guidelines visit: https://www.irs.gov/
REMINDER: An “above-the-line” tax deduction continues to be available through 2021. For taxpayers who take the standard deduction (instead of itemizing), you can receive a $300 tax deduction ($600 for married filing jointly) for cash donations to eligible non-profit organizations. (Prior to 2020, there was no donation tax break available for those who took the standard deduction).
Thank you for your generosity and support!