We realize these provisions don’t apply to everyone at Declaration, but we hope informing you of these great tax benefits will help you make the most of your giving as we continue to help people encounter and follow Jesus.

 

• There are tax-efficient way to give is through stocks or other marketable securities. Giving stocks is a great way not only to maximize your charitable giving through an investment you’ve made but also to do so in a tax-efficient manner as you avoid the capital gains tax on the investment while receiving a full charitable deduction. If you are interested in making a stock gift, contact at accounting@declaration.org.
   

• Are you 70 ½ or older? If so, you may want to consider making charitable gifts through a QCD (qualified charitable distribution). A QCD is a direct transfer of funds from your IRA custodian, payable to the charitable organization of your choice. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met. In addition to the benefits of giving charitably, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare. Also, QCDs don’t require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving. If you want to visit more about making a gift through a QCD, contact accounting@declaration.org or speak with your financial advisor. 

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*This is merely for informational purposes and is not to be considered financial advice.  For more specific insight on your particular situation, we encourage you to consult your tax or financial advisor.

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Regardless of how you give, know that we are grateful for your generosity and most importantly that God is glorified by it. Thank you for your irresistible hospitality and radical generosity as we 'set the table' helping people encounter and follow Jesus. 

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What a privilege it is that together, our giving back to God builds His Kingdom!