Tax Efficient Ways to Give in 2022

2022 has been a year of profound change for many of our neighbors who are working hard to recover from the effects of the pandemic. Just as many are getting back on their feet, high inflation and the threat of recession are thwarting their ability to thrive. At United Way, we’re committed to partnering with organizations and communities to accelerate the journey to financial wellbeing for individuals and families across our region, and we have a unique opportunity to address these issues now, to reimagine and rebuild a more resilient community for everyone.

Consider these tax-efficient ways you can help achieve economic justice for our region:

DONATE YOUR CRYPTOCURRENCY

Donations of Bitcoin and other cryptocurrencies are not subject to capital gains tax and are tax-deductible.

INDIVIDUAL RETIREMENT ACCOUNT GIFTS

Make a charitable contribution up to $100,000 from your Individual Retirement Account (IRA) directly to United Way (EIN: 04-2382233). The direct distribution to charity would not be included in your taxable income.

STOCKS AND SECURITIES

Give a gift of stock or securities, which has the double tax benefit of not having to pay capital gains tax on the appreciated value, while getting a full deduction for the fair-market-value of the appreciated gift.

COMMUNITY INVESTMENT TAX CREDIT (CITC)

HELP COMMUNITIES RECOVER, CREATE HOUSING AND GET A 50% STATE TAX CREDIT

The Community Investment Tax Credit (CITC) provides donors — individuals, companies, and foundations — a 50% state tax credit that fuels the work of more than 30 Community Development Corporations (CDCs) across Massachusetts.

As our neighbors grapple with skyrocketing inflation, energy and childcare costs, the vision of a more equitable tomorrow has never been more urgent.

Thank you for supporting United Way and helping to reimagine and rebuild our communities.