The Roundup -

Tax Relief Before the New Year

 


Right now is the time of year when all of us tax paying Americans are trying to figure out how to keep more money in our own pockets and not write a big fat check to Uncle Sam. The Foundation for Community Care can help with this conundrum as well as care for your community and create a future income stream for you. Does this sound too good to be true? Fortunately, if you are looking for tax incentives, the Foundation can do all of these things for you. Here’s how.

The Foundation for Community Care has the capability of issuing Charitable Gift Annuities and Deferred Charitable Gift Annuities. These planned gift types involve a simple contract between you and the Foundation. You agree to make a gift to the Foundation’s endowment fund and, in return, receive set payments for the rest of your life. This arrangement allows you to support the Foundation’s work as well as supplement your income.

Not only does this agreement provide you with regular payments and allow us to further our mission, but the tax incentives are incredible! Besides a federal tax deduction, Montana allows an endowment tax credit equal to 40% of the charitable value of your gift. Few states offer this tax incentive and it’s only available until 2019. Take advantage of this while you can!

If you’re like most Americans, you may be in search of new, creative ways to ease your annual tax burden. Fortunately, there are several things you can do to cut your taxes or increase the amount of your tax refund without incurring the wrath of the IRS. For more information about planned giving and how it can help you with your taxes this year, call Melissa Boyer at the Foundation for Community Care at 488-2273.

 

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