There are only a few days left to make the best of 2021 tax benefits for charitable contributions, and I hope you choose one of those days to make a tax-deductible gift to Tanenbaum.
A recent article in Forbes outlines two of the more attractive tax benefits for 2021:
- “In 2021, U.S. taxpayers can deduct up to $300 in charitable donations made this year, even if they choose to take the standard deduction…These numbers are double for legally married couples… It is expected this tax break will not be back in 2022, so it is essential to make the contribution this year if you want the tax break.”
- “For tax year 2021, you can potentially donate 100% of your income to charity and receive a full tax deduction for 100% of your donation. This is assuming you itemize your tax deductions in 2021. This scenario could be beneficial for someone who is retired (or semi-retired) and doesn’t show much in the way of earned income.”
Whatever the amount or impetus for your gift, please know we will put it to good use in support of Tanenbaum’s work to promote justice and build respect for religious difference in schools, workplaces, hospitals, and other medical facilities, and internationally in areas of intense conflict.
Please keep in mind that December 31st is the deadline to make charitable donations for 2021. Donations processed after this date won’t receive a tax deduction for the tax year 2021.
Wishing you great happiness in the new year.
Rev. Mark Fowler