If you are age 70 ½ or older, have an IRA, and want to make contributions tax efficiently, you might want to consider a qualified charitable distribution (QCD). A QCD is a distribution from an IRA that is transferred directly from the IRA custodian to the charity. When you file your tax return, you can then exclude the amount of the QCD from your taxable income. For retirees who have accumulated significant savings in their tax-deferred accounts, the onset of Required Minimum Distributions at age 73 can have serious tax consequences. Please consult your tax professional or financial planner for advice.

Donating appreciated securities, including stocks or bonds, is an easy and tax effective way to make a gift to the church. Gifts of appreciated assets not only qualify for a charitable deduction but may also reduce or eliminate capital gains taxes. Any discussion of tax treatment is not intended and should not be considered as tax advice. Please consult your tax professional or financial planner for advice.

There are significant tax benefits for a farmer to donate grain directly to Hosanna rather than selling the grain and then donating the cash. By donating grain, you avoid including the sale of the grain in your farm income. To ensure compliance with tax laws, farmers wishing to donate a commodity should contact their trusted advisors for legal and tax advice. Then, work with the elevator of choice to direct the proceeds from the sale of grain to Hosanna. Alert Hosanna so that we can watch for the check and let you know when it arrives.