Monday, December 6, 2021

CPRS End of Year Charitable Contributions

 From: Sarah English



CPRS End of Year Charitable Contributions

This time of year, many are looking to make charitable contributions as part of their tax planning. If you are looking for an itemized, charitable contribution, please consider Center Place Restoration School for such a donation.

-ALSO-

IRA CHARITABLE ROLLOVER—a tax-saving charitable gift for non-itemizers

Due to an increased standard deduction, many individuals and couples will no

longer be able to claim itemized deductions. However a tax-free IRA charitable

rollover offers the following benefits to individuals age 70 1/2  or older:

● The ability to direct a current, outright IRA gift, up to $100,000, to CPRS or

other qualified charities

● Satisfaction of the required minimum distribution (RMD) without increasing

taxable income

● No loss of a charitable contribution itemized deduction

● Ability to direct your donation to the operating fund, tuition assistance,

sanctuary renovation, or other areas of interest

● A Qualified Charitable Distribution (QCD) can be a very tax-effective way

to support a cause. With a QCD a check is sent directly from an IRA to

CPRS, allowing the donor to exclude the amount from taxable income

CONTACT YOUR FINANCIAL ADVISOR FOR MORE INFORMATION

CENTER PLACE RESTORATION SCHOOL

819 W WALDO AVE

INDEPENDENCE, MO 64050


Sarah English

CPRS School Secretary
PHONE: 816.252.1715
FAX: 816.252.2900

WEBSITE: cprsgoldeneagles.com




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