This fundraiser closed about 2 years ago
There only a few more weeks to make your end of the year donations to claim them on your tax returns. I know for many of you, for tax savings, at the end of the year you make significant donations. I urge you when deciding on where to send the money that you consider sending your donation to the National Canine Cancer Foundation. Your help goes a long way to finding new cures and new treatments.
I recently found two interesting facts on new ways to save on taxes while giving to a charity.
If you plan to make a significant gift to charity this year, consider giving appreciated stocks or mutual fund shares that you've owned for more than one year. Doing so boosts the savings on your tax return. Your charitable-contribution deduction is the fair-market value of the securities on the date of the gift, not the amount you paid for the asset, and you never have to pay tax on the profit.
Taxpayers age 70½ must take annual minimum withdrawals from their IRAs or pay a steep penalty -- 50% of the amount they failed to withdraw. But this year you can direct up to $100,000 of your IRA distribution to a charity and exclude it from income. Although you can't claim a charitable deduction for the donation, reducing your adjusted gross income could make you eligible for other income-related tax breaks.
Of course, any donation amount helps us get closer to our goal; eliminating cancer as a major health issue in dogs.
Again, we thank you for your support of the National Canine Cancer Foundation. In the spirit of our motto “If we all work together, We Are The Cure”, please take the time to send this newsletter or a link to our website to a dog lover you know. We want to spread the word about the NCCF and our effects on our dogs’ lives.
Gary D. Nice
National Canine Cancer Foundation, Inc.
NCCF’s Website www.wearethecure.org