Every year, many Americans devote their time and resources to causes and charities they care about. As you plan your year-end gifts for 2021, there are some special considerations to keep in mind:
- DONOR ADVISED FUNDS are a convenient source to continue gifts in uncertain times. Paso del Norte Community Foundation can assist you in facilitating charitable gifts and achieving your philanthropic goals.
- CASH GIFTS made before Dec. 31 can provide tax savings whether you itemize or not.
- NONCASH GIFTS may offer tax savings. Those who give appreciated stock or other securities to qualified charities avoid capital gains tax on the profits and can also claim an income tax deduction if they itemize.
- GIVE NOW OR GIVE LATER: Retirement plans offer future charitable options for those who do not anticipate itemizing their tax deductions. Qualified Charitable Distributions (QCDs) allow individuals 70½ years old or older to donate up to $100,000 to charities directly from a taxable IRA.
For more information on how to give back to our community, please contact Mica Short, Vice President of Development at (915) 218-2641 or email@example.com.