For the majority of our donors, late March and Early April means Tax Preparation Season. Here at the Evelyn Alexander Wildlife Rescue Center, it's Baby Preparation Season. While our donor community is gathering receipts and paperwork and hoping for a refund check, we are preparing new cages and nests, and getting ready for an influx of orphaned abandoned and injured fawns, bunnies, raccoon kits and literally hundreds of baby birds.

As you prepare your taxes your tax-deductible non-cash donations of stock, crypto, and IRA contributions help us us help these wild babies by helping us with staff overtime (feedings can happen every 3 hours, 24/7), purchasing specialized formulas, and equipment like incubators and warming blankets. Please consider a non-cash donation today.

A gift of appreciated securities held for more than one year may provide significant benefits to you as a contributor, such as:

Entitling you to a charitable income tax deduction for the fair market value of the gifted securities as of the date of the gift.
Eliminating capital gains tax that would ordinarily become due if you had sold the appreciated securities on the open market and donated the proceeds from the sale to charity
Claiming your charitable deduction against up to 30% of your adjusted gross income. Any unused deductions can be carried forward over the next five years.
Providing a way to help you to achieve your long-term financial objective of reducing your income and estate taxes.

If you have securities that have declined in value over the years and are interested in donating them to charity, you may find it more advantageous to sell the securities first and contribute the proceeds to charity as opposed to donating the securities outright. This strategy should allow you to claim a deduction for both the loss from the sale of the securities as well as the charitable gift.

Donating long-term held cryptocurrency investments can unlock additional funds for the EAWRC in two ways.

First, you potentially eliminate the capital gains tax you would incur if you sold the assets yourself and donated the proceeds, which may increase the amount available for charity by up to 20%. Second, if you itemize deductions on your tax return instead of taking the standard deduction, you may claim a fair market value charitable deduction for the tax year in which the gift is made and may choose to pass on that savings in the form of more giving.

Did you know the gift of a Qualified Charitable Distribution (QCD) benefits donors aged 70½ and up?

The Qualified Charitable Distribution (QCD) is an excellent way to show your support for the American Cancer Society and receive tax benefits in return. As you plan your required minimum distributions (RMD), consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!

It's important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.

Tax Season Giving

By Evelyn Alexander Wildlife Rescue Center

Tax Season Giving

You can save on taxes and we can help save wildlife