What to Do with the New Tax Laws

Our work at Gilda’s Club is made possible through the support of individual donors, corporate partners, foundation support and our fundraising events. This incredible community allows Gilda’s Club to provide its various support groups and programs free of charge. People have ask us how the new tax law and doubled standard tax deduction will impact non-profit giving and Gilda’s Club South Florida. Even with changes in the tax laws, there are some tax efficient ways to fulfill your charitable gifts and continue to support our free cancer support program today:

  • The most tax efficient way to make a donation for those who are 70 ½ or older is to make an IRA charitable rollover gift and exclude the amount of the gift from your gross income. Gifts can come from both spouses with an IRA and can be made up to $100,000 per taxpayer per year.
  • Another tax efficient way to make a donation is by contributing long-term appreciated securities.  We are able to accept donations of stocks, mutual funds or exchange traded funds, which allows donors to deduct the fair market value, if eligible, while not having to recognize the gain on the appreciation.
  • Front-loading your charitable gifts has also been an effective strategy used by many donors who worry that they will not have contributed enough to itemize their charitable gifts.
  • No matter your age, you can give to Gilda’s Club monthly and ask your employer to match your gifts to double your impact. Our development team can help you determine if your company has an existing matching program or even help you begin a conversation with your employer if this is something new to them.
  • Another fun and easy giving opportunity: Gather your co-workers (or any community group really) for a “Go Red Day for Gilda’s” or “casual Friday,” where everyone can wear red or dress down for a $5 donation to support our mission.

We can share so many stories about how your support has made a difference. You can help secure the financial future of Gilda’s Club South Florida, so that we can be here as long as cancer is with us. Thank you for supporting Gilda’s Club, ensuring our cancer support program remains free, and spreading the word.

                     *Please consult with your tax advisor for any recommendations or guidance prior to making any decisions.

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