Only 10 Days Left to Qualify for a 2012 Charitable Deduction!

It is not too late for the NCMS Foundation to help you reduce your tax liability. Remember that contributions are deductible in the year made, so the deadline is quickly approaching.

Some helpful tips to remember from the IRS:

  • Donations charged to a credit card before the end of 2012 count for 2012. This is true even if the credit card bill isn’t paid until 2013.
  • Checks count for 2012 as long as they are mailed in 2012. The NCMS Foundation checks postmark dates during the entire month of January, just to be sure we give all 2012 donors credit in the correct year.
  • Only taxpayers who itemize their deductions on Form 1040 Schedule A can claim deductions for charitable contributions.
  • Taxpayers will have a tax savings only if the total itemized deductions (mortgage interest, charitable contributions, state and local taxes, etc.) exceed the standard deduction. Use the 2012 Form 1040 Schedule A to determine whether itemizing is better than claiming the standard deduction.
  • As always it’s important to keep good records and receipts. The NCMS Foundation will mail tax receipts to all 2012 donors prior to January 31, 2013.

Most important, please remember that your gift can make all the difference to the patients who receive quality care from their local physician thanks to the Foundation’s programs.

The Foundation counts on your support!

The Foundation accepts contributions of stock as well as cash contributions. Checks may be mailed to NCMSF, PO Box 27167, Raleigh, 27611 or donate on-line at www.ncmsfoundation.com, click “Donate to the Foundation” in the upper right corner. Due to NCMS closure December 24-28, please call Pam Highsmith, Director of Development, directly at 919-830-4127 for gifts of stock and credit card gifts.

 
 

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