The beginning of the Jewish New Year 5782 is precisely the time to start thinking about end-of-year giving for the end of the secular year 2021. With just a few months remaining, this is the time to plan, and we are here to help you make your end-of-year giving plan.
Appreciated assets: If you’re selling a business, real estate interest or other highly appreciated, think about where philanthropy fits in, not only as an act of generosity, but as a tax-saving strategy. Making your gift in advance of the sale may help you avoid capital gains taxes and get a larger tax deduction. Call us to confidentially discuss at 404-951-6900.
Donor-advised funds (DAF): This is an ideal time to replenish your donor-advised fund or establish one. This can help you take advantage of bunching. “Bunching” can be accomplished, for example, by making your 2022 charitable contributions in 2021 to, potentially, get a larger itemized deduction in 2021, and then simply using the standard deduction in 2022. This can help philanthropists in the $5,000-$25,000 range save thousands of dollars in taxes while maintaining the same amount of gifts between the two years. Other philanthropists can, similarly, pull forward several years of gifts through use of their donor-advised fund at Atlanta Jewish Foundation. Then you give these funds to the charities of your choice, on your timetable. Please email us with questions firstname.lastname@example.org.
Pay Your Federation Community Campaign Commitment
Federation’s 2022 Community Campaign has officially kicked off. The Community Campaign funds more than 70 partner agencies and organizations and ensures that we can open doors of opportunity, support, and engagement for everyone. When hard times come, we’re built to respond. When people need financial help, food, counseling, or connection, we’re built to deliver. When Israel is threatened, we have the infrastructure to help. When the world needs repair, Jewish Atlanta is ready. Your support for the Campaign is the very best way to ensure that their vision will continue.
You can easily pay your commitment with your Donor-advised fund (DAF). We are here to help you execute this gift.
IRA’s: If you are age 70 ½ or older you can still make an IRA charitable rollover, or a direct tax-free transfer of funds, from your IRA payable directly to a qualified charity. This option is available this year, and it’s a fantastic use of your otherwise taxable IRA dollars. Please contact us for help with IRA matters.
Cash gifts: This year only, for cash gifts, you can deduct up to 100% of your adjusted gross income, as opposed to the normal 60%. Let Atlanta Jewish Foundation walk you through it.
Estate plan review: With current, and potential, tax law changes, many people are looking at their estate plans to take maximum advantage of the current tax laws. This is an ideal time to incorporate philanthropy into your plan. We’re here to help you and we can work directly with your advisor. Email or call to discuss.