What Does the 100% Deduction Rule Mean to You in 2020?
For many generous givers, the charitable tax provisions introduced by the Cares Act for the 2020 tax year are a game changer. In this year only, givers are able to deduct 100% of their Adjusted Gross Income (AGI). At face value this may seem less than news worthy, since this will likely apply to a very small group of givers. However, the creative application of this rule creates charitable opportunities for many NCF givers in 2020…
For Public Company employees paid with Stock Options or Restricted Share Units
If you a generous giver and have executive compensation in the form of stock options restricted share units, this short webinar will show you how you can gift these tax-free to ministry – but only in the 2020 tax year. This is made possible through the charitable provisions of the CAREs Act passed by congress earlier this year.
For Retirees with Pension, Profit Sharing, 401(k) or IRA Accounts
In previous tax years, anyone over 70.5 could gift their required minimum distributions (RMDs) from their IRAs to ministries. This year you can still give your RMDs, but the charitable provisions of the CAREs Act offer generous givers broader tax advantages for giving retirement assets. In this year only, if you are over age 59.5 you can give from your IRA, 401K or Pension Plan to ministry with no federal income tax and no penalties.
