St. Luke's United Methodist Church


4851 S. Apopka-Vineland Road
Orlando, FL 32819



Year-End Giving

A gift of stocks and/or mutual funds is the most common way to make an additional gift to the church. These gifts are tax-deductible at the full fair market value subject to some limitations. Also, the gain is not subject to taxation to the donor or the church. Example: a donor paid $2,000 to purchase stock now worth $10,000. If the donor sells the stock, he/she pays capital gains taxes on the $8,000 gain. If the donor gives the stock to the church, neither the donor nor the church pays taxes and the donor receives a $10,000 tax deduction.  Contact Andrea Whisnant, or 407-955-4796 for more information about non-cash contributions and always consult your legal, financial and tax adviser about the tax destructibility of your gifts.

If you are 70 ½ or older and planning your IRA withdrawal strategy, you may want to consider making charitable donations to the church through a Qualified Charitable Distributions (QCD).

A QCD is a direct transfer of funds from your IRA payable to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, if certain rules are met.  In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.  Also, QCDs don’t require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving.

Qualified charitable contributions must be made by December 31 each year in order to exclude that amount from taxable income.

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