All About Giving

 

2023 Annual Stewardship Appeal

Love As God Loves.
           Give As God Gives!

God’s boundless love defines each and every one of our relationships. This love is given to us as a gift to share with each other and the world. This year you are invited to reflect on how God’s love inspires you to love others through acts of loving generosity.

If you'd like to pledge for 2023, please complete the online pledge form.

Donating to St. Paul

You can get your donations to us in many ways:

All online donations and the app are managed by the same company that we have been using for many years. If you need any help with setting up your online donation or using the app, please don't hesitate to contact the office.

Read these helpful instructions on using our online giving portal.

Watch these videos all about online donations 


 

Charitable Giving in 2021

Recent legislation includes several provisions to help those who give to charities. New law generally extends several temporary 2020 tax changes through the end of 2021. The window for taking advantage of these changes closes on December 31, 2021. 

Are you itemizing deductions? (you plan on using Schedule A as part of your Form 1040) 

For those donors who itemize their deductions, and therefore directly write off gifts to charity, the deduction cap has been raised to 100% of adjusted gross income (earlier cap was 60%) for cash contributions. For example, if John Taxpayer has an AGI of $175,000, he would normally be able deduct up to $105,000 for gifts to charity. With the extension of the temporary changes, John can deduct up to his full AGI of $175,000 if he gives that much to charity in 2021. 

Not itemizing? (you do not plan on using Schedule A as part of your Form 1040) 

Usually, taxpayers who take the standard deduction cannot deduct their charitable contributions. The law now permits taxpayers to claim a limited deduction on their 2021 federal income tax returns for cash contributions they made to certain qualifying charitable organizations. 

These taxpayers, including married individuals filing separate returns, can claim a deduction of up to $300 for cash contributions to qualifying charities during 2021. The maximum deduction is $600 for married individuals filing joint returns. 

What about IRA Qualified Charitable Distributions (QCD)? 

The CARES Act did not change the rules around the QCD, which allows individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity annually, without taking the distribution into taxable income. 

However, remember that in 2021 an individual can elect to deduct 100% of their AGI for cash charitable contributions. This effectively affords individuals over 59½ years old the benefits similar to a QCD; they can take a cash distribution from their IRA, contribute the cash to charity, and may completely offset the taxes attributable to the distribution by taking a charitable deduction in an amount up to 100% of their AGI for the tax year.  If you’re planning a large donation in 2021, this may be a strategy if you are between the ages of 59½ and 70½ and are not dependent on existing retirement funds.

Note:  It is recommended that you talk with your tax advisor to discuss your financial situation.