Whether or not you itemize deductions on your income tax returns, there are ways to support Catholic Charities that offer certain tax advantages.
For the 2021 Tax Year, the IRS is allowing a deduction up to $300 of cash donations per person without having to itemize, meaning a married couple filing jointly could deduct up to $600 of donations without having to itemize. This is called an “above the line” deduction.
In addition, you may send your IRA’s required minimum distribution directly to CCKCSJ and avoid its inclusion in your adjusted gross income. Also, Missouri income taxpayers may take advantage of Pregnancy Resource Credits, which are issued for 70% of your donation to support our Children and Family programs.
Pregnancy Resource Credits
- For Individuals and businesses who pay Missouri State Income Taxes
- Supports our Children and Family program
- Tax credit is 70% of the donation
- Any taxpayer is eligible (Individuals and businesses)
- Credits may be carried over for one year to meet Missouri State Income Tax obligation
IRA Required Minimum Distribution (RMD)
- Individuals that support any Catholic Charities effort
- Donated RMD is not included in adjusted gross income — no need to itemize
- May help avoid Medicare high-income surcharge or less Social Security benefit taxation
- Any taxpayer age 70 1/2 and over
- Must be transferred directly to Catholic Charities from IRA to be tax-free
- Avoid risk of 50% penalty for non-compliance
In the news
Description: Financial Literacy is one of the most important parts in your financial life. In this presentation you will learn about what Financial Literacy is, why you need it and what the outcomes are from it. Created By: Jacob...
Be A Star Thrower: I cannot believe I am this close to reaching my goal! It has been refreshing to watch myself learn and grow at Catholic Charities Kansas...
Be A Star Thrower: Ever since the early days of this journey for Marie, she has been working hard and reaping the rewards of her actions. The strides she has...
The Bible tells us in Matthew 25:35, 40 this is what being a star thrower means. Putting on the heart of Christ means serving the least among us whether hungry or thirsty, help getting over sickness, or in bad situations. Christ did not come to be among the highest in society, but as a lowly servant seeking to save the isolated and cast out. The manger and shepherds were symbols of that, that even the simplest of situations can bring about the greatest of miracles.
Today I picked up the Christmas Shining Star gifts. I cried with joy. Such a burden was lifted from my shoulders.
Be A Star Thrower: Over the last few weeks, I have seen my hopes and dreams take shape again. I am getting back up on my feet and taking back the life I once...