Last week, we asked for your support as we enter this holiday season with a challenge to raise $50,000 to fund the work of Outreach for Hope in Greater Milwaukee Synod central city congregations in 2022 and beyond.
With your help, we have so far raised $10,000 towards our goal. THANK YOU!
100% of your ‘extra mile’ donation goes directly to grants for central city congregations doing vital work to care for people in need across Southeast Wisconsin. We invite you to learn more about ways you can give in the coming weeks…
Special 2021 Tax Provisions
Too good to be true? Not this time (but only until the end of this year)!
What if we told you that you could make a charitable donation of up to $300 (or up to $600, for couples) through the end of this year – and claim the donation on your 2021 taxes, even if you don’t itemize?
This unusual tax provision was passed in 2020 as part of the CARES act, but it has received little to no attention (perhaps because it lacks a catchy name). Here’s a link to the IRS website which describes the provision in greater detail.
What does this mean for you?
Your $300/$600 gift to Outreach for Hope can be deducted from your taxable income, even if you don’t itemize.
So, if you have donated $300 or more to OFH in 2021 ($600 or more for couples filing jointly), even if you don’t itemize your deductions, you should still be able to deduct THESE donations, which means:
A) If you owe taxes for 2021- your tax bill will be less
OR
B) If you are getting a refund for 2021 – your refund will be larger
If you have not yet reached that $300/$600 maximum charitable donation level – or have not donated at all this year – we encourage you to make that donation as soon as possible. This tax provision EXPIRES in 2021 – so donations received after December 31, 2021 will not be eligible.
Not sure how much you have donated so far this year to OFH? Contact us at 414-671-1212 or phil@outreachforhope.org.
The Content here is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. As with all tax questions, please consult a tax professional or lawyer with any questions you may have about your particular situation.
72 year olds make a big impact on poverty through QCDs!
If you are someone who has celebrated more than 72 years of life, you may have found yourself in a situation with an IRA retirement fund that our government requires you to distribute a minimum portion called a Required Minimum Distribution or RMD.
We hope you are aware that if done correctly, you can avoid the normal hefty tax burden by designating the amount to be distributed upfront as a charitable distribution to Outreach for Hope.
This method of distribution becomes known as a Qualified Charitable Distribution or QCD. It is designated by you to your IRA fund custodian and fulfills the yearly distribution requirement by our government and also serves to benefit Outreach for Hope and our partner’s ministries, but it needs to come from the actual fund, not from you as a personal check.
If you wish to know more about it, we would encourage you to talk with your tax advisor or IRA fund custodian about a Qualified Charitable Distribution or QCD to Outreach for Hope.
Your QCD contribution makes a big difference to the many people in our communities who need your help today as we continue to share the Christmas message that God is with us and has called us to love and serve our neighbor.
Thank you for your consideration and may God bless you and yours this season as well!
Information your tax professional will need to arrange your QCD:
Our Name: Outreach for Hope, Inc.
Our EIN Number: 20-5218843
Phone Number: 414-671-1212
Address: PO Box 341695, Milwaukee, WI 53234
Contact Person: Phil Smith
Thank you for supporting Outreach for Hope in our mutual work of ministry, as we walk with our Ministry Partners who serve people who need to know of God’s love, grace, and goodness at Christmas time and always!