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SMSF's Year-End Giving Guide

The Tax Cuts and Job Act, signed into law in December 2017, made a number of changes to our tax laws. It nearly doubles the standard deduction for individuals and families, limits the aggregate amount of state and local income taxes, including property taxes, that can be deducted, and reduces the cap on home mortgage interest deduction for new loans.

An additional change is that tax filers can deduct a larger percentage of their charitable donations, increasing from 50 to 60 percent of their adjusted gross income.

Charities, including the San Marino Schools Foundation, could potentially receive larger individual donations. To take advantage of charitable giving opportunities in 2018, below are some of the ways you can maximize your giving in 2018 and beyond. Of course, each person's tax situation is unique, so please do consult with your tax and/or legal advisors.

1. Donate Appreciated Securities (Stocks) Receive charitable tax deduction at fair market value of publicly traded securities and bypass tax on embedded capital gains. Consult with your tax adviser to determine the amount of any deduction you may be able to claim for a gift of appreciated securities. To donate stock, please visit the San Marino Schools Foundation website and download the stock donation instructions. Please call the Foundation office at 626.299.7014
2. Donor Advised Fund A donor-advised fund (DAF) is a charitable giving program that allows you to combine the most favorable tax benefits with the flexibility to support your favorite causes. If you have a donor-advised fund, you may recommend grants to SMSF directly.
3. Matching Gifts Did you know that most companies offer their employees a matching gift program to encourage them to be active in their communities? Some companies offer as much as 1:1 or even 2:1 in a matching gift of their own. That means if you give $100 your company might match with a $100 or even $200 gift of their own, doubling your donation! Contact your company's HR department and discover how you might be able to stretch your generosity.
4. IRA Charitable Rollover Gifts If you are the owner of an IRA and are at least 70 1/2 years of age, you may make a charitable gift directly from your IRA to the San Marino Schools Foundation. An IRA Charitable Rollover of up to $100,000 will count toward a Required Minimum Distribution (RMD) effectively minimizing taxes on the transfer. Gifts must be made directly to the Foundation before the end of the tax year (2018).

Thank you for your support of the San Marino Schools Foundation.

Ambassador Business Partners

  • WHH Foundation
    WHH Foundation
  • The Chou Team
  • The Chang Group
  • Tina Siu