Stewardship Updates

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by Lori Hoppmann, Stewardship Chair

Stewardship Update – Where Do I Stand?

A few things to note:

  1. If you have not yet paid your full pledge for 2018 and would like to do so, we are still accepting contributions!
  2. If you have not yet made your pledge for 2019, we encourage you to do so online. If you do not actively make your pledge by going to the church web site or sending an email to stewardship@uucwc.org to inform us otherwise, we will assume that you are maintaining the same pledge you made in 2018.

You should have recently received a financial statement with your pledging and donating history for the most recent church year (July 1, 2018 – June 30, 2018) and the CURRENT church year (July 1, 2018 – June 30, 2019). It is important that you REVIEW THESE STATEMENTS CAREFULLY AND LET US KNOW OF ANY DISCREPANCIES! These statements also allow you to stay current on your contributions to UUCWC.

Are You Age 70 1/2 or Older? Recent Tax Law Changes Warrant a Fresh Look at How You Make Your Charitable Contributions!

The Federal Tax Cuts and Jobs Act of 2017 contains provisions that will likely reduce the number of Federal taxpayers who use itemize deductions for the 2018 tax year and beyond. If you are age 70 1/2 or older, do not expect to use itemized deductions for 2018, and you have an IRA, it is worth considering making a Qualified Charitable Contribution (QCD) to UUCWC to fund your Annual Pledge and/or your Capital Campaign contribution.

A QCD is an otherwise taxable distribution from an IRA owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. QCDs can be counted toward satisfying your required minimum distribution (RMD) for the year, as long as certain rules are met. In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

If you have questions about this strategy, please feel free to reach out to Lori Hoppmann, Stewardship Chair, at stewardship@uucwc.org. In addition, you should also contact your tax professional.