Helpful Tax Information
Year-End Giving Information
When you make a donation to the Hope through Housing Foundation on or before December 31st, you are making an impact on the children, families and seniors we serve. Here are ways to help you consider making a year-end gift:
Tax Deduction Limits
Charitable contributions are deductible for donors who itemize deductions when filing their annual tax returns. 2022 deduction limits for gifts to public charities, including donor-advised funds, are 30% of adjusted gross income (AGI) for contributions of non-cash assets, if the assets were held more than one year, and 60% of AGI for contributions of cash. Contribution amounts in excess of these deduction limits may be carried over up to five subsequent tax years. (https://www.schwabcharitable.org/giving-2022).
You can make a direct gift online at https://hthf.org/how-to-get-involved/give/ or write a check to Hope through Housing Foundation, 9421 Haven Avenue, Rancho Cucamonga, CA 91730.
Donating long-term, highly appreciated taxable securities is one of the most tax-efficient ways to give (e.g. stocks, mutual funds, and exchange-traded funds that have realized significant appreciation over time).
By making a gift of your appreciated securities, you can avoid paying capital gains tax that would otherwise be due if you sold these assets.
Donor-Advised Funds (DAF)
A DAF is a giving vehicle sponsored by a public charity. It allows donors to make a charitable contribution, receive a tax deduction and then recommend grants from the fund over time. https://www.fidelity.com/viewpoints/personal-finance/charitable-tax-strategies
Giving through an IRA
If you are 70½ or older, you are eligible to make a gift of up to $100,000 this year from your traditional IRA to support your favorite charity without affecting your Annual Gross Income. This qualified charitable distribution also counts toward fulfilling the annual required minimum distribution (RMD).
For more information, please contact Alyssa Cotter at email@example.com.