Thanks to the support of our members, the Finger Lakes Land Trust is actively pursuing conservation projects that result in the permanent protection of our region’s most beloved lands and waters.
Gifts to the FLLT help create nature preserves that are open to everyone, protect family farms and rural landscapes, and safeguard new stretches of lakeshores and streams every year. Today, you can make a gift to support our mission. Memberships and contributions are tax deductible to the extent permitted by law.
Here are several tax-advantaged opportunities for your 2021 giving:
Charitable Deductions for Non-Itemized Filers
The CARES Act, passed in March of 2020, includes a provision for donors that don’t itemize deductions. It allows a deduction for charitable gifts made in cash of up to $300 for single tax filers and $600 for those filing jointly. This provision is set to expire after December 31, 2021.
Qualified Charitable Distributions
After a hiatus in 2020 due to the CARES Act, required minimum distributions (RMDs) are back in 2021. This is an IRS mandate to withdraw from retirement plans when you hit age 72. One way to satisfy the RMD requirement and make a charitable gift is through a qualified charitable distribution (QCD). Donors over age 70 ½ can donate up to $100,000 from their IRAs, bypassing the tax liability of an IRA withdrawal and reducing their adjusted gross income.
Appreciated Assets
One of the most tax-efficient ways to give is by donating appreciated assets such as stocks, bonds, or other securities. Donors who itemize on their taxes will receive a tax deduction for the value of their gift (limited to 30% of their adjusted gross income), while also avoiding any capital gains embedded in the asset.
For information on how to make a stock gift, please call the Finger Lakes Land Trust at (607) 275-9487. Our Federal Tax Identification Number is 22-2983688.
This information is not intended as legal or tax advice. Consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation.
