Ask A Planner Steve Baker

Year-End Giving Deadlines

Article Type: Ask a Planner

Q: What's my deadline for year-end giving to my church and other ministries?

A: If you want to claim credit on this year's taxes, the specifics vary according to what you plan to give:

Gifts of cash or checks must be delivered in person or mailed in an envelope postmarked no later than December 31.

Gifts of non-cash assets (such as stock, real estate, business interests and commodities) must be transferred by Decemeber 31.

If you write a check from your IRA account, that check must be received AND PROCESSED by December 31 in order to count as a gift for 2020. It is NOT enough that personal IRA checks are postmarked, or even hand-delivered, by December 31. Alert your church or other favorite ministries when writing IRA checks to ensure your gifts are processed immediately.

Remember, December is incredibly busy — not only for you, but also for the post office, financial advisors and especially ministries. Minimize your stress by creating an extra margin for your gifts to be given, received and processed in time.

Have Questions?

Barnabas Foundation will answer your questions and help you make tax-wise gifts — now and the whole year through. Call 888.448.3040 or email info@BarnabasFoundation.com.