Received this email on 12/15 from the A/T Fund.
“As 2018 approaches, we would like to take a moment to thank all of you for your support of Georgia Tech athletics and to provide an opportunity to potentially help your charitable deductions for calendar years 2017 and 2018.
As you may have heard, the proposed tax reform legislation moving through the U.S. House and Senate could increase the standard deduction and potentially eliminate the deduction when a donor receives “the right to purchase tickets or seating to an athletic event”. This would clearly diminish an incentive for taxpayers who decide to not itemize deductions to make annual charitable contributions. Some projections show that an increase to the standard deduction could decrease the number of those who itemize their deductions from 40 million to less than 10 million. Rest assured, we are currently assessing the potential impact of the proposed tax plan and are evaluating plans for future years should the legislation become law.
We have received a number of calls asking if we allow people to “pay forward” years of annual giving. The simple answer is “Yes”!
For example, you can make a gift of $2,000 for a calendar year 2017 charitable contribution, to be credited toward your annual giving level of $1,000 in FY18 and $1,000 to be credited in FY19.
While we are neither tax prognosticators nor offering tax advice, we are simply letting you know of an option should it be of interest to you to take a larger charitable deduction in calendar year 2017.
This may also be a time to see if it is beneficial for you to pay down multi-year pledge payments and/or go ahead and make a gift/commitment toward that project or initiative of interest to you.
Click here to learn more.
The stock market is enjoying a nice run and now may be a great time to make a gift of appreciated stock toward funding your legacy at GT athletics via the creation of an endowment or gift toward a special project.
To make any gift, please visit
atfund.org/donate for our online giving form, and use the comments area to indicate specific information.
Our staff is available to answer any questions you may have as we approach year end. Feel free to contact us at any time.
Thank you again for your support of Georgia Tech athletics and our “Everyday Champion” student-athletes. Happy Holidays to all and Go Jackets!
Sincerely,
Jim Hall
Associate Vice President for Development (Athletics)”
