News
NEW TAX LAW IS AN OPPORTUNITY FOR GENEROUS GIVERS.
Nov. 3, 2005 -- The series of natural disasters this year has elicited an unprecedented response from people wanting to help the survivors. Now Congress has acted to encourage additional charitable giving for relief and to traditional charitable interests during this critical time, reported Ken Neher, director Funding for the Church of the Brethren General Board.
"Of particular note is the KETRA (Katrina Emergency Tax Relief Act), which includes special new incentives for those who wish to make charitable gifts of cash before the end of 2005," reported Neher. "In it Congress has suspended previous limits on deductions for gifts of cash to qualified not-for-profits for the rest of this year." For example, the General Board, On Earth Peace, and Bethany Seminary are among those that will qualify, Neher said. Donors may now deduct qualified charitable gifts in amounts up to 100 percent of their Adjusted Gross Income (AGI), instead of the more common 50 percent for most tax payers, Neher said.
"There are just so many ways a donor can use this bill to maximize their charitable giving," said Robert Sharpe, who has become a national town crier on giving issues and tax laws according to Neher. "The suspension of the 50 percent of AGI limit creates a short window of opportunity for larger gifts by donors that could otherwise cause them to exceed the amount they could normally deduct," Sharpe said.
An additional benefit is the possibility for donors over the age of 59 ½ to fund larger gifts with funds drawn directly from their IRAs and many other types of retirement accounts on a relatively tax-free basis, Neher added.
If you have questions, talk with your tax advisor or call Neher at 509 665-0441.
Source: 11/03/2005 Newsline
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BRETHREN BITS
Conflict Transformation Trainings
Nov. 3, 2005 -- The Ministry of Reconciliation (MoR) has announced conflict transformation trainings: on Nov. 12 "Ministry with Difficult Behavior" will be held at Carson Valley Church of the Brethren in Duncansville, Pa.; on Nov. 16-18 "Advanced Reconciliation Skills, Applying the Polarity Principles for Reconciliation in Congregations," will take place at Camp Mack, Milford, Ind., led by Mike Crump, MoR practitioner, and Bob Gross, co-director of On Earth Peace; $195 fee includes tuition, materials, accommodations; 1 CEU is available for ministers. A Spring 2006 Intensive course on "Conflict Transformation for Pastors" will be held at Bethany Seminary in Richmond, Ind. Contact annieclark@mchsi.com. For more about MoR see www.onearthpeace.org.
Source: 11/03/2005 Newsline
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Credits
The Church of the Brethren Newsline is produced by Cheryl Brumbaugh-Cayford, director of news services for the Church of the Brethren General Board. Ken Neher contributed to this report.
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