2021 is Just Around the Corner
Thank you for your dedicated support. The past year has reminded us how fortunate we are to have you in our family of donors. Your support has made it possible for us to face the many challenges of 2020. We couldn’t have done it without you. Thank you.
We wanted to take this time to remind you of some important CARES Act provisions that have been extended through 2021 or are scheduled to expire at year’s end. These provisions may affect you—and even make it easier for you to make a gift to Ashland Community Hospital Foundation. They include:
- A temporary suspension of required minimum distributions (RMD) for the 2020 tax year will expire December 31. Beginning in 2021, the RMD rules will return unless Congress takes further action. If you are 70½ or older, you can still make a gift from your IRA or name us as a beneficiary.
- An expanded charitable giving incentive that allows taxpayers who take the standard deduction to make up to $300 in charitable cash contributions to qualified charities this year has been extended through 2021 and upgraded. The new deduction is $300 for single filers and $600 for married taxpayers filing jointly.
- For those who do itemize their deductions, the law allows for cash contributions to qualified charities such as ours to be deducted up to 100% of your adjusted gross income (AGI) for the 2020 calendar year. This has now been extended through 2021.
We are so grateful for your generosity, which touches—and changes—so many lives. Please contact me at Janet.Troy@achfoundation.org or (541) 482-0367 to discuss how your gift can help further our mission.