End-of-Year Gifts to the Church

As 2018 draws to a close, we encourage you to make your end-of-year gifts to the church. The Tax Cuts and Jobs Act has provided opportunities for donors to increase their giving.

Do you have stock that you have held for more than one year and that has increased in value? You can donate your stock to Paradise Valley United Methodist Church (PVUMC), avoid capital gains tax and receive a tax deduction for the value of the stock. If you are age 70 ½ or older, a donation from your Individual Retirement Account can be very beneficial. The donation can qualify as your required minimum distribution for the year. The amount of the IRA donation is not included in your income, generally allowing you to pay less tax. Before making any tax-related decision, please consult your tax advisor. If you would like further information on giving opportunities, please contact Mickey Price, Church Administrator, or Monica Stern, Finance Ministry Team Chair.

Monica J. Stern (bio is below) discussed potential tax savings strategies at an interactive workshop brought to you by the Paradise Valley United Methodist Church Foundation in February, 2018. Read more about the PVUMC Foundation here.

Monica J. Stern is the principal member of the firm Monica J. Stern, CPA, PLLC located in Phoenix, Arizona. A 1984 graduate of Arizona State University, she received her CPA certification in 1985. Monica serves the tax and accounting needs of small businesses and individuals as well as the unique needs of churches and other faith-based organizations. Monica is a regular speaker for various non-profit organizations and associations. She is an active member of the Arizona Society of CPAs and is an American Institute of Certified Public Accountant Ambassador.

Read More about the Tax Cuts and Jobs Act: The US House of Representatives Ways and Means Committee published this document and the Tax Foundation has supplied this one. The United States Committee on Finance also has information on their website, including a policy highlights document.

Pin It on Pinterest

Share This