Give more, pay less in taxes before CARES Act benefits expire!
Make an even greater impact on Bible translation—
thanks to these special tax provisions, which expire on December 31, 2021:
- If you itemize deductions on your federal taxes, you can deduct up to 100% of your AGI for charitable gifts made in 2021, and carry over any excess for 5 years.
- Even if you don’t itemize, you can deduct up to $300, or $600 if married filing jointly.
- If you are at least 59½, you may take a distribution of any amount from your IRA or 401k, give the same amount to a qualified charity, and avoid paying any federal income taxes on the distribution.
Note that because JAARS is registered as a “supporting organization” to SIL International, qualifying gifts must be made out to SIL International with the memo, “For the preferred use of JAARS.”
Learn more at jaars.org/cares-act, and as always, please check with your tax advisor for official guidance. Explore other options for tax-advantaged giving—like IRA Rollovers, appreciated stock, Donor Advised Funds, and more—at jaars.org/more-ways or by calling us at 888.773.1178.