By: Val Walker
The new tax reform law may affect individuals' plans for 2017 end-of-year giving to churches.
There are only two Sundays left in the year 2017. Please share the following new information from the Minnesota United Methodist Foundation with your congregation before 2018 begins as a bulletin insert, an announcement, or the way that makes sense for your church.
New Tax Reform Legislation raises the standard deduction for income taxes beginning in 2018.
If you currently itemize, and are financially able to do so, consider giving some or all of next year's gifts to your church before the end of this year. You can claim your gifts on your 2017 taxes (due April of 2018) and give the church a boost.
This can be done for the annual budget, special gifts such as a capital campaign, or endowment.
To qualify, your gift must be made by the end of this year, on or before December 31 or postmarked no later than December 30. Your check should be dated 2017. Indicate on the memo line "2018 offering" or other designation.
Contact Val Walker at the Minnesota United Methodist Foundation if you have questions.
Val Walker is the Minnesota United Methodist Foundation Executive Director
firstname.lastname@example.org / (612) 230-3338
Minnesota Annual Conference of the United Methodist Church