With the recent tax changes, most taxpayers now no longer itemize deductions for their donations to organizations like Midsummer’s Music. However, it is still possible for you to receive a sizable deduction by making your donation from your retirement plan directly to Midsummer’s Music.
By donating to Midsummer’s Music from your retirement plan, you meet your Required Minimum Distribution requirements and reduce your taxable income at the same time.
The check can be mailed to you and forwarded to Midsummer’s Music, or you can request that your retirement plan custodian mail the check directly to us at the address below. A tax filer in a 25% bracket would save 25% in taxes on the donation made directly from the IRA or other retirement plan without itemizing.
Do you have questions? One of our board members is a financial planner and can help you, or check with your financial institution or financial planner.
Email midsummersmusic@gmail.com or call 920-854-7088 to begin your 2019 retirement plan donation today.
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