The tax reform act that took effect on January 1, 2018, may limit the benefit of income tax charitable deductions for some. However, you still will have ways to make lifetime gifts to charity and still receive tax benefits, including:
- Make gifts of appreciated property such as publicly-traded securities. Avoid capital gain tax by making a gift of appreciated assets that you have held for at least one year.
- Make gifts using the charitable IRA rollover. If you or your spouse are age 70-1/2 or over, make a direct transfer to Westminster Presbyterian Church from your traditional IRA. Such as transfer is not taxable and counts toward your required minimum distribution.
- Make larger gifts to charity. Combined with other deductions, a larger charitable gift may allow you to itemize; the resulting tax savings will reduce the effective cost of your gift.
Be sure to check with your own advisor to understand how the new law will affect your individual tax situation.
Worship will be shortened to allow time for the Congregation’s Annual Meeting; childcare will be available for infants through Pre-K. Items of business will include: hearing a report on the 2018 budget; election of three Trustees; approval of Pastors’ Terms of Call and receiving division reports for 2017. An additional congregational meeting will be scheduled in the spring to elect elders and deacons, etc. The Fellowship Committee will provide soup and beverage. Please bring bread, cheese, or fruit to share. Please join us for information, food and fellowship!