It’s December! How’d that happen? This year has really flown by for me, and in talking with many of you, you’ve expressed the same feelings. You have just under four weeks to make some financial decisions to reduce your 2022 tax bill. Following are several tax-smart ways to give and we have the tools to make it really easy.
Do you have appreciated assets like stock or crypto?
Making a donation of stock or crypto is a great way to invest in United Way of Treasure Valley while reducing your personal tax owed. Stock or crypto gifts avoid capital gains taxes and typically get a full federal income tax deduction! Use this link to make a stock gift or get additional information. For crypto gifts, contact me directly using the info at the bottom of this letter.
If you are 70 ½ years old or older, you can give directly from your IRA or 401K account and not include that donated amount as income.
The gift, called a Qualified Charitable Distribution, will count against your Required Minimum Distribution for the year. This link will make your Qualified Charitable Distribution easy to request and complete. Donating directly from your IRA or 401K avoids any taxes, and allows you to preserve the post-tax money that you already have.
Are you wondering what to get your family members, friends, or employees for Christmas gifts this year?
Give them a gift worth hundreds or thousands of dollars for free! Our partnership with Freewill allows anyone to prepare a will for free in just a few minutes, in any state in the country.
National data says that 70% of Americans do not have a current will, or any will. Share this link with someone you know who needs to have a will. This will creation tool is completely free and will only take about 30 minutes. In full disclosure, people creating a will are prompted if they would like to leave a gift in their will to their local United Way. If they choose to do that – wonderful and thank you! If they choose not to, no problem. They still get to create their personal will for free.
As 2022 comes to a close, thank you for your generosity, for your encouragement, for your partnership in our work to improve lives by mobilizing the caring power of our community to advance the education, health, and financial stability of every person in the Treasure Valley. Change doesn’t just happen, it’s created together.
For me, my favorite gift this year has been getting to work together with you to make this spot in the world the best place for everyone to thrive.
Merry Christmas, and thank you!
Got questions or need more information? Contact Ed Schultz at firstname.lastname@example.org or call 208-807-2931.
PS: Our office will be closed from December 24 through January 1. If you need to meet or drop off a donation please contact me by phone call or text at 208-861-8517.