With 2022 just around the corner, here is a final reminder about some important tax provisions that are scheduled to expire at the end of this year. These may lower your tax bills, and can help you make an impact at St. Catherine’s. As always, please discuss tax considerations with your professional tax advisors.
Maximize Your Charitable Deductions
The CARES Act charitable giving incentive extends through the 2021 tax year to allow the following deductions for individual taxpayers:
- Those who take the standard deduction are eligible to claim a charitable deduction of up to $300 for single filers and up to $600 for joint filers
- Those who itemize their deductions may deduct cash contributions up to 100% of their adjusted gross income (AGI) to qualified charities
Making Year-End Gifts to St. Catherine’s
- To receive a 2021 tax receipt, all gifts must be processed by 11:59 PM on December 31, 2021
- The online giving portal is accessible 24/7 at www.stcathmont.org/donate
- Credit card gifts made over the phone or via mail must be received by 3:00 PM on December 30 to ensure timely processing
- Checks sent via the USPS must be dated on or before December 31, 2021 and must have a 2021 postmark
If you have any questions about your family’s giving, please do not hesitate to contact Lyndsey Ray at [email protected] or (713) 665-2195.
Thank you for keeping St. Catherine's in mind as you make your year-end giving plans. We wish you a very merry Christmas and a happy New Year!