Tax Season Ready
Donations are essential for Chimes’ continued success. It allows us to assist individuals with disabilities live full and meaningful lives. Your donations can continue to provide necessary dental care not provided by Medicaid, or educational supplies for The Chimes School with the hopes of increasing the students’ ability to succeed. Your donation may simply allow a young woman in our community living to have her nails painted red for the holidays.
These are three of the countless instances where we must continue to rely on your help to provide necessary services and supports for people with disabilities and other barriers to independent living.
Making donations is not only a way to help us accomplish our mission, but it also helps you reduce your tax burden for the year. The new tax law suspended the limitations on itemized deductions meaning you can now get full credit for your donations. The new tax law also doubled the amount you can deduct for charity.
To get the deduction, you must file Form 1040, the form you use for an individual or joint income tax return and itemize your deductions on the Schedule A section of the form. For more information on Charitable Contribution Deductions, please be sure to check out the IRS’s site for tips and answers to your questions.
To help you prepare for Tax Season, we will be sending out our annual Stewardship mailer. The mailer will list out all the donations we received this year and how we used your donations to help us accomplish our mission.