Make A Tax Deductible Donation to CfR
Casting for Recovery was founded on the principles that nature heals and that women with breast cancer deserve one weekend – free of charge, to escape the stresses of medical treatments, home, and/or work – to experience something new and challenging in a beautiful, safe environment. As we head into our 25th year in 2021, CfR has served over 10,000 women! Unfortunately, for each woman that attends a CfR retreat, we turn 3 women away due to resource limitations. Women in the US face a one-in-eight lifetime risk of developing breast cancer. 250,000 women are diagnosed with breast cancer each year in the United States alone and 2.3 million women in the US are currently living with breast cancer. Breast cancer impacts us all, our mothers, sisters, wives, partners and pals! Help us reach more women, consider a donation and a tax deduction today!
Helpful 2020 Tax Deduction Information:
$300 IRS Tax Deduction
Charitable cash donations up to $300 made this year will be deductible for individuals when you file your taxes in 2021 even if you don’t itemize on your tax returns. This change in the tax law was included in the CARES Act that was passed earlier this year. So, if you qualify for the standard deduction, you will likely still be able to deduct up to $300 and lower your taxable income by that amount. This deduction is for contributions made by check, credit card or debit card but does not include donations of securities or in-kind gifts. Click here to read more from the IRS.*
Are you 70 1/2 or older? You can avoid paying taxes on your “required minimum distribution” from your IRA or SEP.
In general, individuals who are 70 1/2 or older may make “qualified charitable distributions” of up to $100,000/year from their IRA to charitable organizations without including the distribution in their gross income for income tax purposes, which is a significant benefit. It can be as simple as providing your favorite charity’s address to your financial advisor, the amount you want to donate, and they handle it from there mailing a check directly to said charity. Most people won’t pay taxes on this required minimum distribution. If you use this process to send the money directly to the non-profit, you cannot count that contribution in your charitable donations if you itemize. For more info, please visit the IRS guidelines here.*
*Always consult your financial advisor and/or tax professional for guidance.