# Featured Planned Giving Blog Post

Posted November 2021

With good reason, the last two months of the year are called the giving season. Nearly one-third of annual gifts are made just in December. One reason is that the holiday season evokes a spirit of altruism. Another is that by the end of the year we generally have more clarity about our tax situation and financial prospects. As you engage in your own year-end gift planning, here are six things to keep in mind.

1. If you will not itemize deductions and you plan to make some cash charitable contributions, do so before the end of the year. A non-itemizing couple can deduct up to $600 of cash contributions, and a single filer can deduct up to$300 of them. This non-itemizer deduction expires at the end of this year.

2. If you are in a position to make an extraordinarily large cash contribution that would exceed 60% of your adjusted gross income, make the gift this year when you can deduct up to 100% of your adjusted gross income. This special incentive also expires at the end of 2021.

3. If you are aged 70½ or older and have a regular IRA, consider making a gift from it. You may transfer to one or more charities, cumulatively, up to \$100,000 per year. Such a transfer, known as a qualified charitable distribution (QCD), has two major benefits. The amount transferred will not be included in your taxable income and will count toward your required minimum distribution, which begins upon your attaining the age of 72. The transfer is accomplished by advising your IRA administrator to transfer the amounts you specify directly to the charities you designate. This allowable QCD has been in effect for a number of years and, unlike the temporary expiring incentives mentioned above, is not scheduled for termination.

4. If you have established a donor-advised fund (DAF), consider including our organization on your list of recommended charity grantees. Possibly, you contribute amounts to the DAF when it makes sense from a tax standpoint and in other years use grants from the DAF to support favored charities. Although you don’t receive an additional deduction upon recommending a grant to us to support our mission (since the deduction was allowed when you made the gift for the DAF), we do fully recognize you as a contributor and respect your wishes as to the purpose of your gift.