Issue 8 Stories
Philanthrophy

New Tax Law and Charitable Giving

With the introduction of the tax law this year, you may be wondering how you are impacted.

Among the changes:

Standard deduction: The new law nearly doubles the standard deduction to $12,000 for single filers, $18,000 for heads of household and $24,000 for joint filers.

Charitable contributions for cash gifts:

The new law increases the limitation on donations by cash, check or credit card from 50 percent of adjusted gross income (AGI) to 60 percent of AGI.

Itemized deductions: If you are eligible to itemize in 2018, your deductions may look a little different (though charitable deductions remain under the new law if you are eligible to itemize). If you purchase a new home, there is now a cap on the mortgage interest deduction for the first $750,000 of debt on your primary residence. Under the new plan, if you itemize your deductions, you will be able to deduct up to $10,000 for income taxes, sales taxes and property taxes.

If you are not eligible to itemize, consider these other smart ways to make a gift to the Martha Jefferson Hospital Foundation:

Gifts of appreciated property: You may qualify for an income tax charitable deduction and eliminate capital gains tax.

The IRA charitable rollover: For individuals age 70½ or older, this option helps fulfill your required minimum distribution and is not considered taxable income.

Have a Question? We Can Help.

Our knowledgeable special gifts team is ready to answer any questions you may have about the many ways in which you can make a meaningful gift to Sentara Martha Jefferson Hospital.

Martha Jefferson Hospital Foundation

www.mjhfoundation.org          

434-654-8258

Special Gifts Team:

Ray R. Mishler,

Vice President                 

rrmishle@sentara.com

Cathy L. Sedwick,

Director of Philanthropy

clsedwic@sentara.com

 

Disclaimer:  “The information presented herein is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your calculations.”

Feature

Unstoppable

Joint Replacement Surgery Helps Patients Get Back Into Action
Feature

Nursing: The Heart of Sentara Martha Jefferson Hospital

Feature

Speaking Through Pictures

Photovoice Project Brings Attention to Health Disparities in the Community
Presidents Letter

Taking Our Caring Tradition Out Into the Community

The Best Medicine

Stretching the Limitations of Getting Older

Physicians Perspective

Introducing the Sentara Martha Jefferson High-Risk Breast Program

On-Call Advice

What causes insomnia, how is it treated, and can it lead to other problems?

On-Call Advice

What are bone spurs, and how are they treated?

Improve Health Everyday

Staying Active Throughout Your Day

Improve Health Everyday

Preventing Suicide

Improve Health Everyday

Safe Travel During Winter

Clinical Excellence

Automated Pharmacies Help Ensure Medication Safety for Patients

Health Matters

Have You Had Your Flu Shot?

La Salud Importa

¿Se ha vacunado contra la gripe?

Aging Well

Treating Depression and Anxiety in Older Adults

Mental Health Concerns Common Among Elderly, but Also Highly Treatable
Active Living

Stretching for the Health of It

Eat Well Live Well

Hitting the Low Note for Sodium

Womens Health

Women and Heart Disease

Pay Attention to What Your Body is Telling You
Sentara in the Community

Community Highlights of 2018

Philanthrophy

A Promise We Are Willing and Able to Make!

Philanthrophy

Investing in Our Team

Philanthropic Priorities in Nursing Education, Clinical Education and Professional Development
Philanthrophy

Making it Fun to Give Back Through Service

As Foundation Board Chair, Bryan Thomas Focuses on Making the Work Enjoyable and Successful
Philanthrophy

Philanthropy Begins at Home

Philanthrophy

New Tax Law and Charitable Giving

With the introduction of the tax law this year, you may be wondering how you are impacted.