Here to make sure you get your greens - in more ways than one.
Tax changes in the past years have had an impact on cheritable deductions. MCA is a 501c3 organization and your generous gifts toward protecting our Ag Reserve and local farms are therefore tax deductible. Our Finance Committee has provided guidance to help you benefit from your generosity.
For Everyone:
Last year, individuals were able to deduct donations up to $300 without itemizing their taxes. New for 2021 - couples filing jointly can deduct up to $600 while still getting the standard deduction.
Last year, individuals were able to deduct donations up to $300 without itemizing their taxes. New for 2021 - couples filing jointly can deduct up to $600 while still getting the standard deduction.
For Our Distinguished Elders: If you have and IRA and have sowed 70 1/2 harvests or more, you can take advantage of a simple way to benefit MCA and the Ag Reserve and receive tax benefits. You can make gifts from your IRA directly to a qualified charity such as MCA without having to pay income tax on the gift. A detailed explanation of how these QCDs (Qualified Charitable Deductions) work from the WaPo here. Contact your IRA custodian to find out how you can transfer your gift directly to fuel our work (EIN 52-2294213)
Other Options: Our Finance Committee has prepared a brief primer on these strategies and more, including lumping donations and donor advised funds that may be right for you.
We hope that using one or more of these options can help you claim a deserved deduction for your generosity. It is always advisable to check with your tax advisor to make sure your particular situation is amenable to the option you wish to choose.
Montgomery Countryside Alliance is the lean, tenacious and award winning nonprofit with boots on the ground protecting Montgomery County's Agricultural Reserve and our local water supply. Our local focus relies on local support. We would be honored by your tax deductible gift.
