To meet the growing needs of local families, GRACE depends heavily on charitable year-end gifts to provide crucial support for the New Year.
While we encourage supporters to seek tax counsel with the professionals, here are a few factors to consider by December 31, 2017 before the new law goes into effect for 2018.
- Many tax brackets will be lowered, which means the value of your deduction against your income will be at its highest this year in comparison to the years to come.
- The standard income tax deduction will double beginning in 2018 for individuals and married couples, which means you may not be eligible to claim an itemized deduction for your charitable gifts in future years.
- Please note that checks mailed and postmarked before December 31 will be included in 2017 gifts.
This would be an ideal time to consult your tax advisor about how the new laws will impact your family, but by all accounts, 2017 may be the best year to maximize your gifts.
This year and every year families in crisis are looking for hope, GRACE will continue to provide life-changing support in the way of food, clothing, shelter, education and medical care.
God has sustained the work of GRACE for over thirty years, and we will continue to advance the mission of providing relief to families in need by the generosity of His people.
A gift of $20, $50, $150, or $500 or more will provide direct relief to families struggling in our midst. On behalf of those we serve, thank you for making a profound impact on families in 2018.
