Supporting TPF – potential tax savings
Fri, 24-Dec-2021 by
Nic Evans
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**Increase in Charitable Deduction Limit**
The increase in the itemized deduction for cash contributions to public charities of 60% to 100% of adjusted gross income has been extended to include the 2021 tax year. Speak to your accountant and [make donations.](https://www.perlfoundation.org/payments.html)
**Additional Tax Advantageous Giving Strategies**
Gifts of Long-Term Appreciated Securities: In many cases, a gift of long-term appreciated securities is more tax advantageous than giving cash because capital gains taxes can be avoided. This can be especially useful in optimizing your tax benefits if you are not itemizing deductions in a given year.
IRA Charitable Rollover Gifts: If you are 70 years and six months of age or older, the IRS may allow you to make a qualified charitable distribution of up to $100,000 directly to The Perl Foundation from a traditional Individual Retirement Account (IRA). The benefit of donating through a rollover is that you will be able to avoid reporting the income.
Speak to your accountant to learn more about theses two options.
Thank you for being such an important part of our work at The Perl Foundation. Your support makes it possible for us to do the daily work growing Perl and Raku.
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Comments (1)
Well written! Useful, comprehensive, to-the-point.
