Tax Smart Ways to Give
Consider the following gift options that allow you to make a major difference at John Wesley Methodist Church while also enjoying tax benefits that you may see reflected on next year’s return, then review tax law changes that may offer you additional opportunities.
Use Appreciated Stock
By donating stock that you have owned for longer than one year, you qualify for the same income tax savings as you would by making a gift of cash. You also eliminate any tax on the appreciation.
New Charitable Deduction Benefit
Starting with your 2026 return, you can give up to $1,000 (single filers) or $2,000 (married couples) in cash and still receive a charitable deduction—even if you don’t itemize. So even smaller donations can benefit you while making an impact at our church. Note: Gifts to donor-advised funds are excluded.
Another Benefit If You’re 65 or Older
Through the 2028 tax year, you may claim yet another deduction—up to $6,000 for an individual or $12,000 if married and both spouses qualify. This deduction is in addition to the standard deduction, so in some cases you may be able to boost your deduction even further. Note that this deduction phases out for taxpayers with higher incomes, so discuss this with your tax professional or accountant.
Use Appreciated Stock
By donating stock that you have owned for longer than one year, you qualify for the same income tax savings as you would by making a gift of cash. You also eliminate any tax on the appreciation.
New Charitable Deduction Benefit
Starting with your 2026 return, you can give up to $1,000 (single filers) or $2,000 (married couples) in cash and still receive a charitable deduction—even if you don’t itemize. So even smaller donations can benefit you while making an impact at our church. Note: Gifts to donor-advised funds are excluded.
Another Benefit If You’re 65 or Older
Through the 2028 tax year, you may claim yet another deduction—up to $6,000 for an individual or $12,000 if married and both spouses qualify. This deduction is in addition to the standard deduction, so in some cases you may be able to boost your deduction even further. Note that this deduction phases out for taxpayers with higher incomes, so discuss this with your tax professional or accountant.
POWER UP YOUR IRA
Transform RMD Obligation Into Inspiration Using Qualified Charitable Distributions
You probably know RMD stands for “required minimum distribution”—the money you must remove from your individual retirement account each year once you turn 73.
Given the tax hit you take on it each year, though, you may feel it should stand for “remove many dollars.” It’s understandable that many people loathe the RMD, but did you know you can use it to help something you love?
By making a gift to John Wesley called a qualified charitable distribution (QCD), you can fulfill all or part of your RMD without getting taxed.
You don’t have to wait until you’re 73 to make a QCD gift to TMF. As long as you’re 70½ or older, you can give up to $111,000 this year to us from your IRA. (The maximum amount will increase each year with inflation.)
Another Option That Still Saves on Taxes
If a QCD isn’t right for you now and you’d prefer to make your IRA a legacy gift after your lifetime, you can name us as a beneficiary. It costs you nothing today—and it costs us nothing in taxes when the gift is distributed.
Simply contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website and name us and the gift percentage on the form. Please let us know about your plans so we can make sure your gift is used the way you wish.
Make a Gift From Your IRA before you turn 73
If you are 70½ or older, you can give any amount up to $111,000 from your IRA directly to Texas Methodist Foundation. You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
You probably know RMD stands for “required minimum distribution”—the money you must remove from your individual retirement account each year once you turn 73.
Given the tax hit you take on it each year, though, you may feel it should stand for “remove many dollars.” It’s understandable that many people loathe the RMD, but did you know you can use it to help something you love?
By making a gift to John Wesley called a qualified charitable distribution (QCD), you can fulfill all or part of your RMD without getting taxed.
You don’t have to wait until you’re 73 to make a QCD gift to TMF. As long as you’re 70½ or older, you can give up to $111,000 this year to us from your IRA. (The maximum amount will increase each year with inflation.)
Another Option That Still Saves on Taxes
If a QCD isn’t right for you now and you’d prefer to make your IRA a legacy gift after your lifetime, you can name us as a beneficiary. It costs you nothing today—and it costs us nothing in taxes when the gift is distributed.
Simply contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website and name us and the gift percentage on the form. Please let us know about your plans so we can make sure your gift is used the way you wish.
Make a Gift From Your IRA before you turn 73
If you are 70½ or older, you can give any amount up to $111,000 from your IRA directly to Texas Methodist Foundation. You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.