Looking for additional ways to donate to CIVIC MUSIC?
Tax laws change and we are confused about how best to support the charitable organizations whose passions we share. Here are a couple of options to help us all continue our generosity.
Qualified Charitable Distribution (QCD)
The rules for a QCD allow taxpayers to make IRA distributions up to $100,000 payable directly to a qualified charitable organization like CIVIC MUSIC without treating the distribution as taxable income. In addition, the distribution will count towards the IRA owner’s Required Minimum Distribution (RMD) for the year. Contact your tax professional to find out more about this.
Gifts of Appreciated Securities
Still another way is to gift appreciated securities to a charitable organization like CIVIC MUSIC. Capital gains on the amount of appreciation are avoided, and the donor receives a tax deduction for the stock’s full market value on stocks owned longer than one year. Contact your investment and/or tax professional for more information.