Interested in making an end of year gift to the Grand Piano Series?
There are several ways to do it!
Please note the important information and deadlines: December 31 is the last day to make charitable contributions to receive a tax deduction for the calendar year 2019.
Checks should be dated and postmarked on or before December 31 and mailed to:
Grand Piano Series
3330 Crossings Ct. # 301
Bonita Springs, FL 34134.
Envelopes mailed through private mailing services such as FedEx must be received by the morning of December 31 to be processed as 2019 gifts. They may also be hand-delivered by 3 PM EST on December 31.
Credit card payments can be made securely online at Year-End Campaign by 11:59 PM EST on Dec. 31.
Credit card gifts made over the telephone or sent by mail must be received at the Grand Piano Series offices by 3 PM EST on December 31 to be charged.
Gifting appreciated stock is another way to support our mission. You can take a tax deduction for the full fair market value by donating stock to charity and avoid a sale, facing no capital gains tax on the stock’s appreciation.
IRA CHARITABLE ROLLOVER
If you are 70 ½ or older, you can contribute up to $100,000 tax-free, from a traditional IRA, to support Grand Piano Series without being subject to federal income taxes on the distribution. Your Required Minimum Distribution (RMD) can be satisfied by contributing either partially or in total to Grand Piano Series.
Furthermore, you can contribute additional amounts from your IRA to Grand Piano Series even if you have already met your 2019 RMD requirement, as long as you do not exceed $100,000 in one year.
Please note that your qualified charitable distribution must be transferred from your IRA directly to a qualified charity.
IRA distributions may not establish or be gifted to a donor-advised fund.
Can you still get a tax break for donating to charity in 2019 under the new tax law changes?
You may still receive a tax break for charitable donations if you itemize deductions on your tax return. But the new tax law nearly doubles the standard deduction, leading to fewer people itemizing. If your charitable gifts plus other deductions total more than the standard deduction, which in 2019 is $12,200 for individuals or $24,400 for married couples filing jointly, you may receive a break.
Making two-, or even three-years’ worth of charitable gifts at once (referred to as bunching) may put you over the threshold. One good way to accomplish this is by contributing to a donor-advised fund (DAF).
You take the tax break in the year you give and have unlimited time to decide the charities you would like to give to. To learn more about DAF, Click Here .
CONSULT YOUR TAX ADVISOR AND IRA CUSTODIAN FOR THEIR GUIDANCE
Grand Piano Series Inc. is a registered 501(c)(3) corporation, and all donations are tax deductible to the extent permitted by law. Donors can deduct contributions they make to Grand Piano Series Inc. under Internal Revenue Code (IRC) Section 170. Grand Piano Series Inc. is also qualified to receive tax deductible bequests, devises, transfers or gifts under Section 2055, 2106, or 2522. Public Charity Status: 509 (a) (2) Federal tax identification number (EIN): 81-4331298.