Annual Giving Top Four Ways to Give and Make Biking in Marin Better This Tax Season
Donors like you are helping make biking in Marin safe, fun, and accessible. Thanks to you we are a growing organization, adding new programs and serving a wider, more diverse audience every year. As tax policies change, so do the opportunities for charitable deductions. Below are the top four ways you can benefit from supporting MCBC before the end of the year. As always, please talk to your tax professional for more information.
#4 – Give From Your Retirement
If you are over 70½, donate part of your Required Minimum Distribution (RMD) from your retirement account(s). While the Consolidated Appropriations Act of 2021 extended certain tax breaks, it did not extend the waiver of required minimum distributions (RMDs) from retirement accounts. That means, unlike last year, RMDs must be made in 2021. For those of you who take the standard deduction, a qualified charitable distribution (QCD) is an attractive option. Individuals over age 70½ can donate up to $100,000 from their IRA. This satisfies the RMD requirement if it goes directly to a charity.
#3 – Give Appreciated Stock
As in the past, donors can help themselves—while helping others—by making charitable gifts in the most tax-efficient way possible. Donors will receive a charitable income tax deduction for the gift of stock, subject to AGI limitations, while permanently avoiding embedded capital gains that may otherwise trigger costly tax liabilities in the future.
#2 – Remember MCBC in Your Estate Plans
With so much of the estate and tax policy in flux, many donors are in the process of revisiting their estate plan with their professional advisors. If you are in the middle of revising your estate plans, please consider joining other MCBC members who are making a lasting legacy for better bicycling in Marin by remembering MCBC in their plans. Even if you have multiple heirs, 1% could make a real difference.
And the #1 way to win this tax season is: Give Today
Gifts by check or online this holiday season are always appreciated. Recurring gifts help us plan for the future – and encourage us to dream big! Checks can be mailed to PO Box 695, Fairfax, CA 94978 or give online.
Gifts to the area of greatest need click here
Gifts to Cory’s Ride click here
Gifts to help improve access for Mountain Bikers click here
Gifts to help make streets safer for people who bike (and those who would like to drive less if it were safer) click here
Thank you for helping us create a Marin where everyone can bike safely every day, in every neighborhood.
members make it happen!
We’re fighting for a more bike-friendly future in Marin. Are you with us? Join Marin County Bicycle Coalition today.