Additional options for you to save

While gathering paperwork for your 2025 tax return, did you find yourself wondering whether you missed any opportunities to save?

You can avoid any regrets this year. Consider the following gift options that allow you to make a major difference at the Catholic Legacy Society for the Archdiocese of Boston while also enjoying tax benefits that you may see reflected on next year's return, then review tax law changes that may offer you additional opportunities.



Use appreciated stock

By donating stock that you have owned for longer than one year, you qualify for the same income tax savings as you would by making a gift of cash. You also eliminate any tax on the appreciation.



Contribute to your Donor Advised Fund (DAF)

Add funds to an existing DAF or open a new one by a written agreement at a community foundation or sponsoring organization. You qualify for a tax deduction when you make a gift to a DAF, without immediately having to choose the organizations you want to support. If you are ready to start making an impact with your DAF, consider recommending a grant (or recurring grants) to support the Archdiocese of Boston.



Make a gift from your IRA

If you are 70 1/2 or older, you can give any amount up to $111,000 from your IRA directly to the Catholic Legacy Society for the Archdiocese of Boston. You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.



Secure great Gift Annuity rates

You can also use your IRA to set up a charitable gift annuity. (Using cash or appreciated stock to fund a gift annuity is also a great option.) Act now to lock in a great rate for life, regardless of what happens in the markets.



Don't forget this new benefit

Starting with this year's return, you can give up to $1,000 (single filers) or $2,000 (married couples) in cash and still receive a charitable deduction -- even if you don't itemize. So even smaller donations can benefit you while making an impact at the Archdiocese of Boston. Note: Gifts to donor advised funds are excluded.



Yet another benefit if you're 65 or older

Through the 2028 tax year, you may claim yet another deduction -- up to $6,000 for an individual or $12,000 if married and both spouses qualify. This deduction is in addition to the standard deduction, so in some cases, you may be able to boost your deduction even further. Note that this deduction phases out for taxpayers with higher incomes, so discuss this with your tax professional or accountant.



We're happy to help

As you consider the smartest ways to make an impact, we are happy to help ensure that you receive the greatest benefit for your kindness. Please contact Lynne E. Sullivan at 617-779-3747 or lynne_sullivan@rcab.org to discuss the options that work best for you.