Three things to remember about your tax-deductible donations

At Orlando Health, we understand tax benefits are just one of the many reasons you donate to your favorite cause. As you complete your taxes for the 2021 year, here are a few strategies to remember as you plan for tax savings now and in the future:

1. Think Beyond Cash Gifts
There are many creative tax-wise ways to support Orlando Health. To learn more about what types of gifts may help reduce your taxable income, avoid capital gains or provide relief from tax burdens, visit our website OrlandoHealthPlannedGiving.com.

2. Don’t forget about the CARES Act
For those of you who took advantage of the 2021 CARES Act above-the-line deduction or increased deduction limit, remember to properly document those gifts according to IRS requirements. Here is a refresher article by the IRS explaining the tax benefits and identifying which forms individuals must use to make their elections.

3. When in doubt, ask your advisor
Always seek advice from your certified financial planner to ensure you are informed of your tax-saving options.  Our planned giving team has experience working alongside professional advisors and enjoys discussing charitable strategies that may benefit you or your loved ones.

What is Planned Giving?

Commonly donated through a will or trust, gifts of stock or charitable gift annuities, planned gifts are a simple way to make an impact on patient care while leaving a legacy of philanthropy.  Making a gift of stock, grant from your donor-advised fund or distribution from your IRA are three easy ways you can support Orlando Health your own way.