For those of you who have investments, the following are tax saving strategies beyond the standard charitable deduction. They could be a way to help you increase your contribution to JWUMC by off-setting the increase with tax savings.

Stock Transfer

• To avoid paying capital gains tax, make a stock transfer directly to JWUMC.
• The name of the donor does not appear on a stock transfer; therefore, you must notify the church that stock is being transferred each time you do so. You or your broker should contact Elie Harmon, the church treasurer at financejwumc123@gmail.com for the proper procedures to process a transfer. You pay no capital gains tax and deduct the full value of the stock as a standard charitable tax deduction.
• The full value of the stock is tax deductible.

Qualified Charitable Distribution (QED) from your Individual Retirement Account (IRA)

• The tax benefit is that the donation is not included in the donor's adjusted gross income. (Thus potentially lowering taxable income, likely decreasing your total income tax bill and lowering Medicare costs.) And this donation will satisfy the required minimum distribution (RMD) in the year it is made. There is no additional standard charitable tax deduction beyond the reduction of the donor's adjusted gross income.

Donor Advised Fund (DAF) is like a Charitable Investment Account

• Many brokerage firms offer their clients Donor Advised Fund Accounts. Appreciated stock can be transferred into these accounts with no capital gains tax. This fund can send a donation check to qualified charities that is fully tax deductible.

 
Please consult your accountant to confirm that you qualify for any or all these strategies.