Tax-wise Ways to Give to JFS - The CARES Act & More

How the Coronavirus Aid, Relief, and Economic Security (CARES) Act affects your Charitable Giving and Other Ways to Give to JFS.

Charitable Donations and Taxes, 2020

New Tax Benefits from CARES Act

The Coronavirus Aid, Relief, and Economic Security Act (CARES) makes your donation to JFS even more valuable.  New tax benefits apply to donations made during 2020.

  • For non-itemizers: Taxpayers who use the standard deduction may deduct up to $300 (for couples and individuals) for cash gifts to eligible charities in 2020, in addition to their standard deduction. 
  • For itemizers: Taxpayers who itemize on their returns may deduct up to 100% of their adjusted gross income for eligible donations made during 2020.

Other Tax-wise Ways to Give

Gifts of Stock

By giving appreciated shares of stock, you can avoid paying tax on long-term capital appreciation of the securities and receive a deduction for the full market value of this charitable donation. This double benefit maximizes your donation to JFS and reduces your tax liability.

Giving from an IRA

If you take a distribution from your IRA, that money is taxed as part of your regular income. If you make a Qualified Charitable Donation (QCD) from your IRA, it will count TOWARDS your required distribution but will NOT be counted as income to you! In 2020 the required minimum distribution is waived, but the tax benefit of not paying income tax on the donated IRA funds still applies. Contact your IRA administrator for information on how to make a QCD to JFS.

Make JFS a Beneficiary of your IRA

IRA funds left to loved ones are subject to income tax when paid to these beneficiaries.  If the IRA funds (or a portion) are left to JFS, those funds are not subject to income tax. Make JFS the beneficiary of IRA funds, and give other assets to those you love. Contact your IRA administrator for information on how to make JFS a beneficiary, and your tax advisor for statutory limits on these gifts.

Corporate Matching 

Ask your employer if they have a matching gift program - an easy way to double your donation to JFS!

Grocery Loyalty Programs

You can help JFS while you shop! 

With Smith's Inspiring Donations, JFS receives a donation of 0.5% of your order when you shop with your Rewards Card.  

1) Go to SmithsFoodandDrug.com/inspire.

2) Sign into your account or choose "Create an Account" and fill in the information.

3) Link your Rewards Card to Jewish Family Service. You can search for our name on their system or enter the code TV609.

Amazon SMILE   

1) Log into AmazonSmile with your regular Amazon login, and find "Your AmazonSmile" in the dropdown menu in the upper left corner. 

2) Select Jewish Family Service located in Salt Lake City, UT as your "current charity." 

3) You can also turn on AmazonSmile on your mobile app by finding "settings" on the main menu. Tap Amazon Smile and follow the instructions on your phone.

JFS is a 501(c)(3) non-profit organization. Tax ID: 87-0227089 

Please consult your tax advisor.

Questions?  Contact Nicole Levy at 801.746.4334 or .