Give Tax-Smart for 2020

Did you know there are tax-smart ways to make your year-end gift to St. Lawrence University?

1. Reduce your taxable income, if you take the standard deduction, by up to $300.00 with an “above the line” adjustment for cash donations made before December 31, 2020.
2. Deduct cash donations , if you itemize, by up to 100% of AGI (adjusted gross income) before December 31, 2020. You may blend stock transfers at 30% and cash contributions at 70% to reach 100% of AGI.
3. Avoid capital gains by transferring stocks, bonds & mutual funds that you have owned for at least one year. The University receives the current value of stock, and you receive a tax deduction for its fair market value.
4. Give up to $100,000 tax free with the The IRA Charitable Rollover. This is available to those who are 70½ years or older and either itemize or take the standard charitable deduction. Since the RMD (required minimum distribution) has been waived for 2020, you may want to initiate in January 2021.

Learn more at plannedgifts.stlawu.edu/cares-act.

© 2020 St. Lawrence University, All Rights Reserved.